Alexandria Real Estate Equities, Inc. (NYSE:ARE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, November 3rd.
According to Zacks, “Alexandria’s third-quarter 2017 adjusted funds from operations (FFO) of $1.51 per share surpassed the Zacks Consensus Estimate. It also came in higher than the prior-year quarter figure. Results were driven by robust internal and external growth. Furthermore, shares of Alexandria have outperformed the industry, year to date. The company enjoys high occupancy arising from escalating demand for its Class A properties in premium locations. In September, the company announced that its ground development project —100 Binney Street — was 100% pre-leased, in advance of its delivery in fourth-quarter 2017. Also, robust cash flow and solid balance sheet are the company’s strengths. However, dilutive impact of dispositions on earnings and rise in interest rates remain concerns. Moreover, the company’s global footprint makes its profitability vulnerable to currency fluctuations.”
Several other research analysts also recently commented on ARE. BidaskClub downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Mizuho reissued a “buy” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, November 1st. National Bank Financial downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Monday, October 23rd. Royal Bank Of Canada reissued a “hold” rating on shares of Alexandria Real Estate Equities in a research note on Monday, October 23rd. Finally, Barclays PLC lifted their price target on shares of Alexandria Real Estate Equities from $129.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Alexandria Real Estate Equities has a consensus rating of “Hold” and a consensus price target of $113.17.
Alexandria Real Estate Equities (ARE) traded down $1.28 during mid-day trading on Friday, hitting $125.00. 76,314 shares of the company’s stock traded hands, compared to its average volume of 728,558. The stock has a market capitalization of $12,118.83, a P/E ratio of 21.42, a PEG ratio of 3.49 and a beta of 0.85. Alexandria Real Estate Equities has a 52-week low of $104.87 and a 52-week high of $127.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.21 and a quick ratio of 0.21.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.96). The business had revenue of $285.60 million for the quarter, compared to analysts’ expectations of $286.11 million. Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. equities analysts forecast that Alexandria Real Estate Equities will post 6.02 EPS for the current fiscal year.
In related news, CEO Joel S. Marcus sold 25,000 shares of Alexandria Real Estate Equities stock in a transaction on Monday, September 25th. The shares were sold at an average price of $118.99, for a total value of $2,974,750.00. Following the sale, the chief executive officer now owns 664,436 shares in the company, valued at $79,061,239.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Andrews sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction on Monday, September 11th. The shares were sold at an average price of $120.41, for a total transaction of $602,050.00. Following the completion of the sale, the executive vice president now owns 153,000 shares in the company, valued at approximately $18,422,730. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $4,806,000 in the last 90 days. Company insiders own 1.51% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ARE. Vanguard Group Inc. boosted its holdings in Alexandria Real Estate Equities by 6.6% in the second quarter. Vanguard Group Inc. now owns 15,723,151 shares of the real estate investment trust’s stock valued at $1,894,168,000 after acquiring an additional 970,646 shares in the last quarter. Cbre Clarion Securities LLC lifted its position in Alexandria Real Estate Equities by 67.5% during the second quarter. Cbre Clarion Securities LLC now owns 2,244,374 shares of the real estate investment trust’s stock valued at $270,380,000 after buying an additional 904,575 shares during the period. Janus Henderson Group PLC lifted its position in Alexandria Real Estate Equities by 724.8% during the second quarter. Janus Henderson Group PLC now owns 954,257 shares of the real estate investment trust’s stock valued at $114,975,000 after buying an additional 838,568 shares during the period. Bank of New York Mellon Corp raised its position in shares of Alexandria Real Estate Equities by 60.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,147,368 shares of the real estate investment trust’s stock worth $258,693,000 after purchasing an additional 810,466 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Alexandria Real Estate Equities in the 2nd quarter worth about $83,357,000.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alexandria Real Estate Equities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexandria Real Estate Equities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.