Alexandria Real Estate Equities (ARE) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a hold rating to a buy rating in a research report report published on Monday. The brokerage currently has $137.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Shares of Alexandria have outperformed the industry in the past one year. The stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share being revised upward in two months’ time. Recently, Alexandria expanded its Alexandria LaunchLabs initiative, providing a solid startup platform for life science companies. Notably, strong fundamentals of the life science industry have enabled the company’s Class A properties in upscale locations to enjoy high occupancy. Also, Alexandria’s effort to improve credit profile is encouraging. It has adequate capital buffer which will likely cushion its position during any adverse situation. However, the company’s global footprint makes its profitability vulnerable to currency fluctuations. Rate hike adds to its woes.”

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Several other equities research analysts also recently commented on ARE. Barclays upped their target price on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an overweight rating in a report on Tuesday, January 30th. TheStreet lowered Alexandria Real Estate Equities from a b- rating to a c rating in a research report on Friday, February 2nd. Royal Bank of Canada reissued an outperform rating and set a $135.00 price target on shares of Alexandria Real Estate Equities in a research report on Monday, February 12th. Finally, ValuEngine raised Alexandria Real Estate Equities from a hold rating to a buy rating in a research report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $102.34.

Shares of NYSE ARE opened at $122.93 on Monday. Alexandria Real Estate Equities has a 12 month low of $111.59 and a 12 month high of $134.37. The firm has a market cap of $12,356.21, a PE ratio of 20.42, a P/E/G ratio of 2.99 and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.38.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $1.54 by ($1.16). Alexandria Real Estate Equities had a net margin of 14.77% and a return on equity of 3.08%. The company had revenue of $298.79 million for the quarter, compared to analysts’ expectations of $293.63 million. During the same period in the prior year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. research analysts anticipate that Alexandria Real Estate Equities will post 6.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.93%. The ex-dividend date was Wednesday, March 28th. Alexandria Real Estate Equities’s payout ratio is 59.80%.

In other Alexandria Real Estate Equities news, COO Stephen Richardson sold 3,750 shares of the company’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $123.32, for a total value of $462,450.00. Following the transaction, the chief operating officer now directly owns 124,972 shares of the company’s stock, valued at approximately $15,411,547.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joel S. Marcus sold 30,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $125.37, for a total value of $3,761,100.00. Following the completion of the transaction, the chief executive officer now directly owns 671,358 shares in the company, valued at $84,168,152.46. The disclosure for this sale can be found here. Insiders have sold 71,618 shares of company stock worth $8,935,609 over the last three months. 1.51% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Aperio Group LLC increased its position in Alexandria Real Estate Equities by 2.5% in the 4th quarter. Aperio Group LLC now owns 19,296 shares of the real estate investment trust’s stock worth $2,520,000 after purchasing an additional 470 shares during the last quarter. BB&T Corp increased its position in Alexandria Real Estate Equities by 3.6% in the 4th quarter. BB&T Corp now owns 13,877 shares of the real estate investment trust’s stock worth $1,813,000 after purchasing an additional 484 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Alexandria Real Estate Equities by 16.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,504 shares of the real estate investment trust’s stock worth $458,000 after purchasing an additional 488 shares during the last quarter. Bailard Inc. increased its position in Alexandria Real Estate Equities by 18.8% in the 4th quarter. Bailard Inc. now owns 3,160 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Alexandria Real Estate Equities by 1.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,239 shares of the real estate investment trust’s stock worth $5,385,000 after purchasing an additional 503 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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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.

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