Trading Report: Today, Alexandria Real Estate Equities Inc. (ARE) Lowered by The Zacks Investment Research

Today, Alexandria Real Estate Equities Inc. (ARE) Lowered by The Zacks Investment Research

Zacks Investment Research downgraded shares of Alexandria Real Estate Equities Inc. (NYSE:ARE) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Alexandria Real Estate Equities, Inc., Landlord and Developer of Choice to the Life Science Industry, is a publicly-traded real estate investment trust focused principally on the ownership, operation, management, selective redevelopment, development and acquisition of life science properties. Our properties are designed and improved for lease primarily to institutional, pharmaceutical, biotechnology, medical device, life science product, service, biodefense and translational medicine entities, as well as governmental agencies. “

Several other equities analysts also recently weighed in on the company. Barclays PLC lifted their target price on Alexandria Real Estate Equities from $113.00 to $121.00 and gave the company an overweight rating in a research report on Tuesday, August 23rd. TheStreet downgraded Alexandria Real Estate Equities from a buy rating to a hold rating in a research report on Monday, August 1st. RBC Capital Markets reiterated an outperform rating and set a $120.00 target price (up from $105.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, August 4th. BTIG Research initiated coverage on Alexandria Real Estate Equities in a research report on Thursday, August 25th. They issued a buy rating and a $124.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Alexandria Real Estate Equities from $104.00 to $111.00 and gave the company an overweight rating in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $117.00.

Alexandria Real Estate Equities (NYSE:ARE) opened at 110.62 on Tuesday. The company’s market capitalization is $8.78 billion. Alexandria Real Estate Equities has a 12 month low of $70.69 and a 12 month high of $114.67. The stock’s 50 day moving average price is $105.80 and its 200 day moving average price is $104.93.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Tuesday, November 1st. The real estate investment trust reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The company had revenue of $230.38 million for the quarter, compared to the consensus estimate of $165.66 million. Alexandria Real Estate Equities had a negative return on equity of 1.37% and a negative net margin of 6.05%. Alexandria Real Estate Equities’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. Equities research analysts anticipate that Alexandria Real Estate Equities will post $5.52 earnings per share for the current fiscal year.

In related news, CIO Peter M. Moglia sold 4,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $109.59, for a total transaction of $438,360.00. Following the completion of the transaction, the executive now directly owns 94,867 shares of the company’s stock, valued at $10,396,474.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas J. Andrews sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $110.75, for a total value of $1,107,500.00. Following the transaction, the executive vice president now directly owns 139,600 shares of the company’s stock, valued at $15,460,700. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. raised its stake in Alexandria Real Estate Equities by 232.7% in the second quarter. Cohen & Steers Inc. now owns 6,391,651 shares of the real estate investment trust’s stock valued at $661,664,000 after buying an additional 4,470,369 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Alexandria Real Estate Equities by 415.1% in the second quarter. Daiwa Securities Group Inc. now owns 2,538,395 shares of the real estate investment trust’s stock valued at $262,775,000 after buying an additional 2,045,619 shares during the last quarter. Standard Life Investments LTD raised its stake in Alexandria Real Estate Equities by 1,021.2% in the third quarter. Standard Life Investments LTD now owns 1,080,739 shares of the real estate investment trust’s stock valued at $117,579,000 after buying an additional 984,349 shares during the last quarter. Prudential Financial Inc. raised its stake in Alexandria Real Estate Equities by 1,042.5% in the third quarter. Prudential Financial Inc. now owns 711,607 shares of the real estate investment trust’s stock valued at $77,402,000 after buying an additional 649,320 shares during the last quarter. Finally, State Street Corp raised its stake in Alexandria Real Estate Equities by 16.3% in the second quarter. State Street Corp now owns 3,570,765 shares of the real estate investment trust’s stock valued at $369,642,000 after buying an additional 499,742 shares during the last quarter. 98.49% of the stock is owned by institutional investors.

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 office/laboratory and technology office space for lease to the science and technology industries. It is focused on collaborative science and technology campuses. It develops urban cluster campuses and ecosystems.

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