BMO Capital Markets Upgrades Alexandria Real Estate Equities (NYSE:ARE) to Hold

Alexandria Real Estate Equities (NYSE:ARE) was upgraded by research analysts at BMO Capital Markets to a “hold” rating in a report released on Wednesday, Zacks.com reports.

ARE has been the subject of several other research reports. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Wedbush downgraded Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Finally, Evercore ISI raised their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Alexandria Real Estate Equities has an average rating of “Hold” and a consensus target price of $130.70.

Alexandria Real Estate Equities Stock Performance

ARE opened at $121.03 on Wednesday. Alexandria Real Estate Equities has a 1-year low of $90.73 and a 1-year high of $135.45. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 113.11, a PEG ratio of 4.26 and a beta of 1.16. The company’s fifty day moving average price is $118.46 and its two-hundred day moving average price is $119.77. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $766.70 million for the quarter, compared to analyst estimates of $775.03 million. During the same quarter last year, the firm posted $2.24 EPS. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. purchased a new position in Alexandria Real Estate Equities during the 1st quarter valued at about $30,000. UMB Bank n.a. increased its holdings in Alexandria Real Estate Equities by 132.8% during the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC bought a new stake in Alexandria Real Estate Equities during the 2nd quarter worth approximately $33,000. Riverview Trust Co bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at $37,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Alexandria Real Estate Equities during the 2nd quarter valued at $43,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

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.