Alexandria Real Estate Equities (ARE) Reaches New 52-Week High at $131.00

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $131.00 and last traded at $130.19, with a volume of 447900 shares changing hands. The stock had previously closed at $130.00.

A number of research firms have recently weighed in on ARE. Bank of America upgraded Alexandria Real Estate Equities from a “neutral” rating to a “buy” rating and set a $133.00 target price for the company in a research report on Monday, December 4th. Royal Bank of Canada reiterated a “hold” rating on shares of Alexandria Real Estate Equities in a research report on Monday, October 23rd. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. National Bank Financial downgraded Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $20.00 to $18.00 in a research report on Monday, October 23rd. Finally, BidaskClub upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Alexandria Real Estate Equities currently has a consensus rating of “Buy” and a consensus price target of $99.91.

The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $12,540.00, a price-to-earnings ratio of 22.00 and a beta of 0.84.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.96). Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The business had revenue of $285.60 million for the quarter, compared to analyst estimates of $286.11 million. During the same period last year, the firm posted $1.39 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 24.0% on a year-over-year basis. research analysts predict that Alexandria Real Estate Equities, Inc. will post 6.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.86. Alexandria Real Estate Equities’s payout ratio is 390.91%.

In other Alexandria Real Estate Equities news, insider Peter M. Moglia sold 1,750 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $130.00, for a total value of $227,500.00. Following the completion of the transaction, the insider now owns 115,117 shares of the company’s stock, valued at approximately $14,965,210. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joel S. Marcus sold 27,500 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $129.60, for a total value of $3,564,000.00. Following the completion of the transaction, the chief executive officer now directly owns 623,936 shares of the company’s stock, valued at approximately $80,862,105.60. The disclosure for this sale can be found here. Insiders have sold a total of 82,250 shares of company stock valued at $10,317,080 in the last three months. 1.51% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ARE. NGAM Advisors L.P. increased its holdings in Alexandria Real Estate Equities by 4.1% in the 2nd quarter. NGAM Advisors L.P. now owns 13,213 shares of the real estate investment trust’s stock worth $1,592,000 after purchasing an additional 524 shares in the last quarter. IFP Advisors Inc increased its holdings in Alexandria Real Estate Equities by 510.9% in the 2nd quarter. IFP Advisors Inc now owns 1,906 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 1,594 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Alexandria Real Estate Equities by 3.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 48,400 shares of the real estate investment trust’s stock worth $5,647,000 after purchasing an additional 1,700 shares in the last quarter. Global X Management Co. LLC increased its holdings in Alexandria Real Estate Equities by 72.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Alexandria Real Estate Equities by 13.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 914,702 shares of the real estate investment trust’s stock worth $110,195,000 after purchasing an additional 111,222 shares in the last quarter.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/12/alexandria-real-estate-equities-are-reaches-new-52-week-high-at-131-00.html.

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 space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

Receive News & Ratings for Alexandria Real Estate Equities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexandria Real Estate Equities and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit