Alexandria Real Estate Equities (NYSE:ARE) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Alexandria Real Estate Equities (NYSE:ARE) in a research report sent to investors on Thursday, Marketbeat reports. They currently have a $125.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $130.00.

A number of other analysts have also commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Evercore ISI cut 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 report on Wednesday, October 23rd. Citigroup lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Finally, BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Hold” and a consensus target price of $131.22.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $113.02 on Thursday. The firm has a 50 day moving average of $119.17 and a 200-day moving average of $118.57. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 105.63, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. During the same period in the prior year, the company earned $2.26 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.60%. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Alexandria Real Estate Equities by 14.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,833 shares of the real estate investment trust’s stock worth $36,331,000 after buying an additional 34,854 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Alexandria Real Estate Equities by 2.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 321,624 shares of the real estate investment trust’s stock worth $41,482,000 after purchasing an additional 9,187 shares during the last quarter. Norden Group LLC bought a new position in Alexandria Real Estate Equities in the 1st quarter valued at $963,000. Vanguard Group Inc. grew its stake in Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after purchasing an additional 156,643 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Alexandria Real Estate Equities by 301.6% during the 1st quarter. SG Americas Securities LLC now owns 71,743 shares of the real estate investment trust’s stock valued at $9,248,000 after purchasing an additional 53,877 shares during the last quarter. 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.