Alexandria Real Estate Equities Inc (NYSE:ARE) Director James P. Cain sold 450 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $122.23, for a total transaction of $55,003.50. Following the transaction, the director now directly owns 3,040 shares of the company’s stock, valued at $371,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of ARE stock opened at $123.24 on Wednesday. Alexandria Real Estate Equities Inc has a 12 month low of $114.00 and a 12 month high of $134.37. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 2.97 and a beta of 0.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.27 and a quick ratio of 0.27.
Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $1.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $1.50. Alexandria Real Estate Equities had a net margin of 34.48% and a return on equity of 6.50%. The business had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $343.42 million. During the same period in the prior year, the company earned $1.51 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. As a group, research analysts predict that Alexandria Real Estate Equities Inc will post 6.6 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC increased its holdings in Alexandria Real Estate Equities by 142.3% during the second quarter. Advisors Preferred LLC now owns 860 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 505 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Alexandria Real Estate Equities during the second quarter valued at approximately $164,000. NumerixS Investment Technologies Inc purchased a new stake in Alexandria Real Estate Equities during the second quarter valued at approximately $177,000. Advisor Partners LLC purchased a new stake in Alexandria Real Estate Equities during the second quarter valued at approximately $205,000. Finally, Private Advisor Group LLC purchased a new stake in Alexandria Real Estate Equities during the second quarter valued at approximately $206,000.
ARE has been the subject of several research reports. Citigroup boosted their price objective on shares of Alexandria Real Estate Equities from $127.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. Barclays boosted their price objective on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, July 17th. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Monday, October 29th. Finally, Evercore ISI set a $148.00 price objective on shares of Alexandria Real Estate Equities and gave the company a “buy” rating in a report on Monday, October 15th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $121.17.
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About Alexandria Real Estate Equities
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 $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.
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