Alexandria Real Estate Equities (NYSE:ARE) Given New $114.00 Price Target at Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its price objective reduced by Royal Bank of Canada from $125.00 to $114.00 in a research note published on Tuesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $133.00 to $121.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target (down previously from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Finally, JMP Securities cut their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average target price of $124.82.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $102.33 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. Alexandria Real Estate Equities has a one year low of $100.40 and a one year high of $131.82. The firm has a market capitalization of $17.88 billion, a P/E ratio of 62.40, a PEG ratio of 3.87 and a beta of 1.14. The business has a fifty day moving average price of $111.00 and a 200-day moving average price of $115.66.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The company had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the previous year, the firm earned $2.26 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities announced that its board has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Alexandria Real Estate Equities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.32 per share. The ex-dividend date is Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.16%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 321.95%.

Institutional Trading of Alexandria Real Estate Equities

Institutional investors have recently added to or reduced their stakes in the business. Arbor Capital Management Inc. ADV lifted its stake in shares of Alexandria Real Estate Equities by 1.1% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 8,639 shares of the real estate investment trust’s stock valued at $1,000,000 after acquiring an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Alexandria Real Estate Equities by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,544 shares of the real estate investment trust’s stock valued at $1,584,000 after purchasing an additional 100 shares during the last quarter. Presima Securities ULC boosted its stake in shares of Alexandria Real Estate Equities by 0.9% during the third quarter. Presima Securities ULC now owns 11,725 shares of the real estate investment trust’s stock valued at $1,392,000 after purchasing an additional 100 shares during the period. PFG Investments LLC boosted its stake in shares of Alexandria Real Estate Equities by 5.1% during the second quarter. PFG Investments LLC now owns 2,392 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 115 shares during the period. Finally, Capital Square LLC increased its stake in shares of Alexandria Real Estate Equities by 2.1% in the third quarter. Capital Square LLC now owns 5,811 shares of the real estate investment trust’s stock worth $690,000 after buying an additional 118 shares during the period. 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.