Shares of Alexandria Real Estate Equities Inc (NYSE:ARE) have been assigned an average recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $149.00.
A number of research analysts have commented on the company. JMP Securities began coverage on Alexandria Real Estate Equities in a report on Monday, June 8th. They issued an “outperform” rating and a $185.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Alexandria Real Estate Equities from $175.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Berenberg Bank started coverage on shares of Alexandria Real Estate Equities in a research note on Friday. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Mizuho cut their price objective on shares of Alexandria Real Estate Equities from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, July 20th.
ARE traded up $1.52 on Monday, reaching $164.71. The company had a trading volume of 779,931 shares, compared to its average volume of 968,040. The stock has a market cap of $20.77 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. Alexandria Real Estate Equities has a fifty-two week low of $109.22 and a fifty-two week high of $177.70. The company’s fifty day moving average is $165.23 and its 200 day moving average is $157.76.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.01. The company had revenue of $436.96 million during the quarter, compared to analysts’ expectations of $448.92 million. Alexandria Real Estate Equities had a return on equity of 3.94% and a net margin of 24.09%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts expect that Alexandria Real Estate Equities will post 7.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $1.06 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $4.24 annualized dividend and a dividend yield of 2.57%. Alexandria Real Estate Equities’s payout ratio is 60.92%.
In related news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $172.45, for a total transaction of $1,293,375.00. Following the completion of the transaction, the chairman now directly owns 327,931 shares in the company, valued at approximately $56,551,700.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter M. Moglia sold 6,119 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $163.16, for a total transaction of $998,376.04. Following the completion of the transaction, the chief executive officer now directly owns 170,014 shares of the company’s stock, valued at approximately $27,739,484.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,250 shares of company stock valued at $17,471,906 in the last three months. 1.12% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its position in shares of Alexandria Real Estate Equities by 10.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 15,899 shares of the real estate investment trust’s stock valued at $2,179,000 after purchasing an additional 1,569 shares during the period. Victory Capital Management Inc. grew its stake in shares of Alexandria Real Estate Equities by 12.9% in the first quarter. Victory Capital Management Inc. now owns 111,998 shares of the real estate investment trust’s stock worth $15,350,000 after purchasing an additional 12,825 shares during the last quarter. Sowell Financial Services LLC increased its holdings in Alexandria Real Estate Equities by 194.7% during the 1st quarter. Sowell Financial Services LLC now owns 221 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 146 shares during the period. Eqis Capital Management Inc. bought a new position in Alexandria Real Estate Equities during the 1st quarter valued at approximately $459,000. Finally, Perella Weinberg Partners Capital Management LP bought a new position in Alexandria Real Estate Equities during the 1st quarter valued at approximately $1,416,000. Institutional investors own 92.83% of the company’s stock.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.
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