Zacks Investment Research cut shares of Alexandria Real Estate Equities Inc. (NYSE:ARE) from a buy rating to a hold rating in a research report report published 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. “

A number of other research firms have also recently issued reports on ARE. RBC Capital Markets restated an outperform rating and issued a $120.00 price objective (up previously from $105.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, August 4th. Royal Bank Of Canada boosted their price target on shares of Alexandria Real Estate Equities from $105.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Mizuho boosted their price target on shares of Alexandria Real Estate Equities from $113.00 to $125.00 and gave the company a buy rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. boosted their price target on shares of 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. Finally, Barclays PLC boosted their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $117.00.

Alexandria Real Estate Equities (NYSE:ARE) opened at 111.07 on Tuesday. Alexandria Real Estate Equities has a 52-week low of $70.69 and a 52-week high of $114.67. The company’s market cap is $8.82 billion. The firm’s 50 day moving average is $105.66 and its 200 day moving average is $104.89.

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

In related news, CEO Joel S. Marcus sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $103.58, for a total transaction of $3,107,400.00. Following the transaction, the chief executive officer now owns 673,124 shares in the company, valued at $69,722,183.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $1,107,500.00. Following the transaction, the executive vice president now owns 139,600 shares in the company, valued at approximately $15,460,700. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Alexandria Real Estate Equities by 3.8% in the second quarter. Vanguard Group Inc. now owns 11,285,339 shares of the real estate investment trust’s stock worth $1,168,257,000 after buying an additional 408,368 shares during the period. Cohen & Steers Inc. increased its position in shares of 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 worth $661,664,000 after buying an additional 4,470,369 shares during the period. BlackRock Fund Advisors increased its position in shares of Alexandria Real Estate Equities by 10.6% in the third quarter. BlackRock Fund Advisors now owns 4,011,270 shares of the real estate investment trust’s stock worth $436,306,000 after buying an additional 385,084 shares during the period. State Street Corp boosted its stake in shares of 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 worth $369,642,000 after buying an additional 499,742 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Alexandria Real Estate Equities by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,178,855 shares of the real estate investment trust’s stock worth $329,075,000 after buying an additional 77,097 shares in the last quarter. Institutional investors own 98.49% of the company’s stock.

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Alexandria Real Estate Equities Company Profile

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.

5 Day Chart for NYSE:ARE

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