Evercore ISI Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $132.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price decreased by research analysts at Evercore ISI from $137.00 to $132.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective suggests a potential upside of 14.19% from the company’s current price.

A number of other equities research analysts have also recently commented on ARE. StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They set a “buy” rating and a $140.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday. Finally, Mizuho increased their target price on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.75.

Alexandria Real Estate Equities Price Performance

NYSE:ARE traded down $4.05 during trading hours on Thursday, reaching $115.60. 88,004 shares of the company were exchanged, compared to its average volume of 989,391. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $123.08 and its 200-day moving average is $116.99. The firm has a market cap of $20.22 billion, a PE ratio of 108.18, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The company had revenue of $757.22 million for the quarter, compared to analyst estimates of $740.16 million. Alexandria Real Estate Equities had a return on equity of 0.87% and a net margin of 6.65%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 earnings per share. On average, sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the sale, the chairman now owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Peter M. Moglia sold 3,200 shares of Alexandria Real Estate Equities stock in a transaction on Friday, March 1st. The shares were sold at an average price of $122.90, for a total value of $393,280.00. Following the transaction, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction on Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of the transaction, the chairman now directly owns 429,538 shares in the company, valued at $51,080,658.96. The disclosure for this sale can be found here. 1.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alexandria Real Estate Equities

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. grew its position in Alexandria Real Estate Equities by 4.2% in the 1st quarter. Fulton Bank N.A. now owns 2,074 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 83 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Alexandria Real Estate Equities by 29.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 376 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 85 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Alexandria Real Estate Equities by 5.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,138 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 102 shares during the last quarter. Arbor Capital Management Inc. ADV grew its position in Alexandria Real Estate Equities by 1.3% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 8,606 shares of the real estate investment trust’s stock valued at $1,079,000 after buying an additional 109 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC grew its position in Alexandria Real Estate Equities by 0.7% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 16,234 shares of the real estate investment trust’s stock valued at $2,093,000 after buying an additional 112 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

About Alexandria Real Estate Equities

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.