Shares of Alexandria Real Estate Equities Inc (NYSE:ARE) have received an average rating of “Buy” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $137.38.
A number of equities research analysts recently weighed in on the stock. JMP Securities began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, June 8th. They set an “outperform” rating and a $185.00 price target for the company. Citigroup cut their price target on Alexandria Real Estate Equities from $195.00 to $163.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Zacks Investment Research raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research note on Thursday, May 28th. Royal Bank of Canada increased their target price on Alexandria Real Estate Equities from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Finally, CIBC decreased their target price on Alexandria Real Estate Equities from $24.00 to $20.00 and set an “outperformer” rating for the company in a research report on Wednesday, April 22nd.
In related news, Director John H. Cunningham sold 2,678 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $152.71, for a total value of $408,957.38. Following the completion of the transaction, the director now directly owns 50,449 shares of the company’s stock, valued at approximately $7,704,066.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dean A. Shigenaga sold 5,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $154.10, for a total value of $770,500.00. Following the transaction, the chief financial officer now owns 140,718 shares of the company’s stock, valued at approximately $21,684,643.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,053 shares of company stock valued at $9,340,755. 1.12% of the stock is owned by company insiders.
NYSE:ARE traded down $4.77 during trading hours on Friday, hitting $161.83. 945,969 shares of the stock were exchanged, compared to its average volume of 1,336,247. The company has a market capitalization of $21.02 billion, a P/E ratio of 76.33, a price-to-earnings-growth ratio of 5.59 and a beta of 0.84. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $155.01 and its two-hundred day moving average is $155.45. Alexandria Real Estate Equities has a twelve month low of $109.22 and a twelve month high of $175.74.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($1.62). The firm had revenue of $439.90 million for the quarter, compared to analyst estimates of $415.63 million. Alexandria Real Estate Equities had a net margin of 15.68% and a return on equity of 2.64%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. On average, equities research analysts expect that Alexandria Real Estate Equities will post 7.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.06 dividend. The ex-dividend date is Monday, June 29th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.03. This represents a $4.24 annualized dividend and a dividend yield of 2.62%. Alexandria Real Estate Equities’s payout ratio is currently 59.20%.
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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