Brokerages Set Alexandria Real Estate Equities, Inc. (NYSE:ARE) Price Target at $121.90

Alexandria Real Estate Equities, Inc. (NYSE:ARE) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $121.90.

Several brokerages recently commented on ARE. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Evercore ISI lowered their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $110.00 price target (down previously from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Royal Bank of Canada reduced their price target on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Finally, Robert W. Baird reduced their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of hedge funds and other institutional investors have recently made changes to their positions in ARE. Pathway Financial Advisers LLC raised its position in Alexandria Real Estate Equities by 11,449.8% during the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after purchasing an additional 1,411,304 shares in the last quarter. National Bank of Canada FI raised its position in Alexandria Real Estate Equities by 350.0% during the third quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock valued at $40,536,000 after purchasing an additional 265,508 shares in the last quarter. Raymond James & Associates raised its position in Alexandria Real Estate Equities by 501.1% during the third quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust’s stock valued at $34,539,000 after purchasing an additional 242,466 shares in the last quarter. BNP Paribas Financial Markets raised its position in Alexandria Real Estate Equities by 114.9% during the third quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust’s stock valued at $51,706,000 after purchasing an additional 232,817 shares in the last quarter. Finally, KBC Group NV raised its position in Alexandria Real Estate Equities by 315.9% during the third quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock valued at $20,110,000 after purchasing an additional 128,634 shares in the last quarter. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Stock Down 0.3 %

NYSE:ARE opened at $100.36 on Friday. Alexandria Real Estate Equities has a 12-month low of $94.35 and a 12-month high of $130.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $17.54 billion, a P/E ratio of 61.20, a P/E/G ratio of 3.93 and a beta of 1.16. The stock’s fifty day simple moving average is $102.37 and its 200-day simple moving average is $112.48.

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

Alexandria Real Estate Equities announced that its board has authorized a share repurchase plan on Monday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.26%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s payout ratio is presently 321.95%.

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.