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

BMO Capital Markets upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) to a hold rating in a report published on Wednesday morning, Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Bank of America cut shares of Alexandria Real Estate Equities from a buy rating to a neutral rating and dropped their target price for the company from $151.00 to $126.00 in a report on Monday, July 29th. Wedbush cut Alexandria Real Estate Equities from an outperform rating to a neutral rating and reduced their price objective for the stock from $140.00 to $130.00 in a report on Wednesday, July 24th. Citigroup lowered Alexandria Real Estate Equities from a buy rating to a neutral rating and lowered their target price for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Royal Bank of Canada dropped their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an outperform rating for the company in a report on Monday, August 5th. Finally, Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a buy rating to a hold rating and cut their price objective for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $130.70.

Alexandria Real Estate Equities Trading Down 0.5 %

NYSE ARE opened at $121.03 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $21.17 billion, a P/E ratio of 113.11, a P/E/G ratio of 4.26 and a beta of 1.16. The stock’s 50-day moving average is $118.46 and its 200-day moving average is $119.77. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same quarter in the previous year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in shares of Alexandria Real Estate Equities during the first quarter worth about $30,000. UMB Bank n.a. raised its position in shares of Alexandria Real Estate Equities by 132.8% during the second 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 last quarter. Rothschild Investment LLC bought a new position in Alexandria Real Estate Equities during the 2nd quarter worth approximately $33,000. Riverview Trust Co acquired a new position in shares of Alexandria Real Estate Equities in the 1st quarter worth approximately $37,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at $43,000. 96.54% of the stock is currently 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.