Alexandria Real Estate Equities (NYSE:ARE) Cut to Neutral at Citigroup

Citigroup lowered shares of Alexandria Real Estate Equities (NYSE:ARE) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat reports. The firm currently has $125.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $130.00.

ARE has been the subject of a number of other research reports. Evercore ISI upped their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an in-line rating in a report on Wednesday, August 28th. JMP Securities reaffirmed a market outperform rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their price target on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an outperform rating on the stock in a report on Monday, August 5th. Bank of America cut Alexandria Real Estate Equities from a buy rating to a neutral rating and lowered their price objective for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Finally, Wedbush cut Alexandria Real Estate Equities from an outperform rating to a neutral rating and decreased their price target for the company from $140.00 to $130.00 in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $130.70.

Alexandria Real Estate Equities Stock Up 2.1 %

Shares of NYSE ARE opened at $124.42 on Friday. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 116.28, a PEG ratio of 4.20 and a beta of 1.16. The stock has a 50 day moving average price of $118.58 and a 200 day moving average price of $119.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The firm had revenue of $766.70 million for the quarter, compared to the consensus estimate of $775.03 million. During the same period in the previous year, the company posted $2.24 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a yield of 4.18%. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.99%.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities by 275.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 171 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Alexandria Real Estate Equities in the first quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in Alexandria Real Estate Equities by 132.8% during the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Rothschild Investment LLC acquired a new position in Alexandria Real Estate Equities during the second quarter worth $33,000. Finally, Riverview Trust Co purchased a new stake in Alexandria Real Estate Equities in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

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.