Zacks Investment Research upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a hold rating to a buy rating in a research report released on Monday, April 16th. Zacks Investment Research currently has $137.00 target price 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.”
Several other research firms have also recently issued reports on ARE. Royal Bank of Canada restated an outperform rating and set a $135.00 price objective on shares of Alexandria Real Estate Equities in a research report on Monday, February 12th. Barclays increased their target price on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an overweight rating in a research note on Tuesday, January 30th. TheStreet lowered shares of Alexandria Real Estate Equities from a b- rating to a c rating in a research note on Friday, February 2nd. Finally, ValuEngine raised shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $102.34.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($1.16). Alexandria Real Estate Equities had a return on equity of 3.08% and a net margin of 14.77%. The firm had revenue of $298.79 million for the quarter, compared to analyst estimates of $293.63 million. During the same quarter in the previous year, the business posted $1.42 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 19.9% on a year-over-year basis. equities research analysts predict that Alexandria Real Estate Equities will post 6.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, March 28th. Alexandria Real Estate Equities’s payout ratio is 59.80%.
In other news, CFO Dean A. Shigenaga sold 29,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $125.21, for a total value of $3,631,090.00. Following the completion of the transaction, the chief financial officer now owns 147,864 shares of the company’s stock, valued at $18,514,051.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James P. Cain sold 618 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $123.57, for a total transaction of $76,366.26. Following the completion of the transaction, the director now owns 3,490 shares of the company’s stock, valued at approximately $431,259.30. The disclosure for this sale can be found here. In the last three months, insiders sold 71,618 shares of company stock valued at $8,935,609. Insiders own 1.51% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. We Are One Seven LLC purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $148,000. IFM Investors Pty Ltd purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $200,000. First Allied Advisory Services Inc. purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $203,000. V Wealth Management LLC purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $212,000. Finally, Conning Inc. purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth approximately $225,000. Institutional investors own 99.03% of the company’s stock.
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Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500® company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $17.9 billion and an asset base in North America of 29.6 million SF as of December 31, 2017.
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