Alexandria Real Estate Equities, Inc. (NYSE:ARE) Receives Average Rating of “Hold” from Analysts

Alexandria Real Estate Equities, Inc. (NYSE:ARE) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $124.82.

A number of equities research analysts have recently commented on ARE shares. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $130.00 to $125.00 in a research report on Friday, September 13th. Royal Bank of Canada lowered their price target on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. JMP Securities lowered their target price on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th.

Alexandria Real Estate Equities Price Performance

NYSE:ARE opened at $99.44 on Wednesday. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 3.87 and a beta of 1.15. Alexandria Real Estate Equities has a 12-month low of $97.14 and a 12-month high of $131.36. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average is $109.52 and its two-hundred day moving average is $115.13.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data 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). The firm had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. Research analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.32 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. This represents a $5.28 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio is currently 321.95%.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Large investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Alexandria Real Estate Equities by 1.1% in the 3rd quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock worth $1,270,634,000 after purchasing an additional 112,864 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Alexandria Real Estate Equities by 0.9% in the second quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock worth $476,455,000 after buying an additional 35,216 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Alexandria Real Estate Equities by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock valued at $291,045,000 after buying an additional 72,934 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Alexandria Real Estate Equities by 11,449.8% during the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock valued at $169,056,000 after acquiring an additional 1,411,304 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Alexandria Real Estate Equities by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,050,991 shares of the real estate investment trust’s stock worth $122,934,000 after acquiring an additional 10,576 shares during the last quarter. Institutional investors own 96.54% of the company’s stock.

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.