Alexandria Real Estate Equities (NYSE:ARE) Stock Gets Price Target Cut from Royal Bank Of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its price target lowered by research analysts at Royal Bank Of Canada from $51.00 to $47.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price target suggests a potential upside of 12.17% from the stock’s current price.

Several other brokerages have also weighed in on ARE. Robert W. Baird increased their target price on Alexandria Real Estate Equities from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Raymond James Financial set a $41.00 price objective on Alexandria Real Estate Equities in a report on Monday, October 12th. Citigroup reduced their price objective on Alexandria Real Estate Equities from $50.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho dropped their target price on shares of Alexandria Real Estate Equities from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Finally, Wall Street Zen lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $49.79.

Alexandria Real Estate Equities Trading Down 1.6%

ARE stock traded down $0.67 on Tuesday, hitting $41.90. 75,393 shares of the company were exchanged, compared to its average volume of 2,246,329. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.14 and a quick ratio of 0.19. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -5.01 and a beta of 1.16. Alexandria Real Estate Equities has a twelve month low of $38.34 and a twelve month high of $59.76. The business’s fifty day moving average is $47.88 and its two-hundred day moving average is $49.64.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The company had revenue of $671.18 million during the quarter, compared to analyst estimates of $646.26 million. During the same quarter last year, the business earned $2.22 EPS. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, research analysts forecast that Alexandria Real Estate Equities will post 6.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Joel S. Marcus bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was bought at an average price of $49.68 per share, with a total value of $248,400.00. Following the completion of the transaction, the chairman directly owned 597,724 shares of the company’s stock, valued at approximately $29,694,928.32. This represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.51, for a total value of $849,073.10. Following the completion of the sale, the executive vice president owned 39,152 shares of the company’s stock, valued at approximately $1,977,567.52. This trade represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. 1.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Alexandria Real Estate Equities in the 2nd quarter valued at about $1,146,423,000. Bank of New York Mellon Corp acquired a new position in shares of Alexandria Real Estate Equities in the 2nd quarter valued at approximately $79,253,000. Legal & General Group Plc bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth $76,647,000. Hsbc Holdings PLC bought a new position in Alexandria Real Estate Equities during the 2nd quarter valued at $64,485,000. Finally, Bank of America Corp DE acquired a new position in Alexandria Real Estate Equities during the 2nd quarter worth $61,516,000. 96.54% of the stock is owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.