Alexandria Real Estate Equities (NYSE:ARE) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities (NYSE:ARE) from an overweight rating to a neutral rating in a report issued on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $121.00 target price on the real estate investment trust’s stock, down from their previous target price of $133.00.

ARE has been the subject of several other reports. Jefferies Financial Group cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. JMP Securities dropped their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a research note on Friday, November 15th. Evercore ISI cut their price objective on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price (down from $130.00) on shares of Alexandria Real Estate Equities in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the company from $135.00 to $112.00 in a report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.73.

Alexandria Real Estate Equities Stock Down 0.3 %

Shares of Alexandria Real Estate Equities stock opened at $110.17 on Wednesday. The firm has a market cap of $19.25 billion, a PE ratio of 67.18, a P/E/G ratio of 4.14 and a beta of 1.16. The business’s 50 day simple moving average is $114.35 and its 200 day simple moving average is $117.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. Alexandria Real Estate Equities has a 52-week low of $102.89 and a 52-week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The business had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.26 earnings per share. On average, analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.72%. Alexandria Real Estate Equities’s payout ratio is 317.07%.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of large investors have recently added to or reduced their stakes in ARE. Tidal Investments LLC grew its holdings in shares of Alexandria Real Estate Equities by 26.6% during the 3rd quarter. Tidal Investments LLC now owns 16,808 shares of the real estate investment trust’s stock worth $1,996,000 after purchasing an additional 3,535 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Alexandria Real Estate Equities during the third quarter worth about $43,000. Virtu Financial LLC acquired a new stake in Alexandria Real Estate Equities during the third quarter worth about $276,000. TD Private Client Wealth LLC increased its holdings in Alexandria Real Estate Equities by 5,113.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 12,825 shares of the real estate investment trust’s stock valued at $1,523,000 after buying an additional 12,579 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Alexandria Real Estate Equities by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 77,257 shares of the real estate investment trust’s stock valued at $9,174,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Company Profile

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.