Royal Bank Of Canada Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $65.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price lowered by Royal Bank Of Canada from $98.00 to $65.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s target price points to a potential upside of 14.98% from the stock’s current price.

ARE has been the subject of a number of other reports. Citigroup reiterated a “neutral” rating on shares of Alexandria Real Estate Equities in a research note on Monday. BMO Capital Markets started coverage on Alexandria Real Estate Equities in a research note on Tuesday, September 23rd. They set an “outperform” rating and a $100.00 price objective on the stock. Cantor Fitzgerald cut their target price on Alexandria Real Estate Equities from $79.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. BNP Paribas Exane cut their target price on Alexandria Real Estate Equities from $82.00 to $72.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alexandria Real Estate Equities in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.93.

Alexandria Real Estate Equities Trading Down 2.9%

Shares of Alexandria Real Estate Equities stock opened at $56.53 on Monday. Alexandria Real Estate Equities has a fifty-two week low of $55.02 and a fifty-two week high of $116.52. The business’s fifty day moving average is $79.54 and its two-hundred day moving average is $76.38. The company has a quick ratio of 0.23, a current ratio of 0.24 and a debt-to-equity ratio of 0.65. The firm has a market cap of $9.77 billion, a PE ratio of -22.89, a P/E/G ratio of 5.06 and a beta of 1.31.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.09). Alexandria Real Estate Equities had a negative net margin of 13.43% and a negative return on equity of 1.89%. The company had revenue of $751.94 million for the quarter, compared to analyst estimates of $752.90 million. During the same period in the prior year, the company earned $2.37 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. Alexandria Real Estate Equities has set its FY 2025 guidance at 8.980-9.040 EPS. Analysts anticipate that Alexandria Real Estate Equities will post 9.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARE. Norges Bank bought a new position in shares of Alexandria Real Estate Equities during the second quarter valued at $1,195,306,000. AQR Capital Management LLC increased its position in Alexandria Real Estate Equities by 511.9% in the first quarter. AQR Capital Management LLC now owns 1,517,842 shares of the real estate investment trust’s stock worth $140,416,000 after purchasing an additional 1,269,795 shares during the period. Invesco Ltd. grew its position in shares of Alexandria Real Estate Equities by 39.0% during the 1st quarter. Invesco Ltd. now owns 3,147,743 shares of the real estate investment trust’s stock worth $291,198,000 after buying an additional 882,963 shares during the period. DAVENPORT & Co LLC raised its holdings in Alexandria Real Estate Equities by 1,796.2% in the second quarter. DAVENPORT & Co LLC now owns 835,789 shares of the real estate investment trust’s stock worth $60,814,000 after purchasing an additional 791,712 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its holdings in Alexandria Real Estate Equities by 89.2% in the second quarter. Lasalle Investment Management Securities LLC now owns 1,175,406 shares of the real estate investment trust’s stock worth $85,370,000 after purchasing an additional 554,236 shares during the period. 96.54% of the stock is owned by institutional investors.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.