Alexandria Real Estate Equities (NYSE:ARE) Shares Down 3.2% – Here’s What Happened

Alexandria Real Estate Equities, Inc. (NYSE:ARE)’s stock price traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $103.48 and last traded at $104.51. 439,759 shares changed hands during trading, a decline of 56% from the average session volume of 1,000,485 shares. The stock had previously closed at $108.02.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ARE shares. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Robert W. Baird cut their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Evercore ISI reduced their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Finally, JMP Securities dropped their price target on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.82.

Alexandria Real Estate Equities Stock Performance

The firm’s 50 day moving average price is $113.06 and its two-hundred day moving average price is $116.59. The firm has a market cap of $18.42 billion, a PE ratio of 64.29, a PEG ratio of 4.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 earnings per share. On average, research analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.47 earnings per share for the current year.

Institutional Trading of Alexandria Real Estate Equities

Hedge funds and other institutional investors have recently modified their holdings of the business. Arbor Capital Management Inc. ADV boosted its stake in Alexandria Real Estate Equities by 1.1% during the second quarter. Arbor Capital Management Inc. ADV now owns 8,639 shares of the real estate investment trust’s stock worth $1,000,000 after buying an additional 93 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Alexandria Real Estate Equities by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,544 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 100 shares during the period. Presima Securities ULC increased its holdings in Alexandria Real Estate Equities by 0.9% in the 3rd quarter. Presima Securities ULC now owns 11,725 shares of the real estate investment trust’s stock valued at $1,392,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC raised its position in Alexandria Real Estate Equities by 5.1% in the second quarter. PFG Investments LLC now owns 2,392 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 115 shares during the period. Finally, Capital Square LLC raised its position in Alexandria Real Estate Equities by 2.1% in the third quarter. Capital Square LLC now owns 5,811 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 118 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.