Alexandria Real Estate Equities (ARE) Stock Rating Upgraded by Citigroup

Alexandria Real Estate Equities (NYSE:ARE) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

A number of other brokerages have also recently weighed in on ARE. Evercore ISI set a $148.00 price target on shares of Alexandria Real Estate Equities and gave the stock a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $121.17.

Shares of NYSE ARE opened at $124.50 on Monday. The firm has a market cap of $13.39 billion, a PE ratio of 20.68, a PEG ratio of 2.91 and a beta of 0.72. Alexandria Real Estate Equities has a twelve month low of $114.00 and a twelve month high of $134.37. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.78.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $1.50. The company had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $343.42 million. Alexandria Real Estate Equities had a net margin of 34.48% and a return on equity of 6.50%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. As a group, equities analysts anticipate that Alexandria Real Estate Equities will post 6.62 earnings per share for the current fiscal year.

In related news, insider Joel S. Marcus sold 10,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $123.02, for a total value of $1,230,200.00. Following the sale, the insider now directly owns 562,255 shares of the company’s stock, valued at approximately $69,168,610.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James P. Cain sold 450 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $122.23, for a total transaction of $55,003.50. Following the completion of the sale, the director now directly owns 3,040 shares in the company, valued at $371,579.20. The disclosure for this sale can be found here. Insiders sold a total of 22,450 shares of company stock worth $2,792,874 over the last ninety days. 1.41% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Alexandria Real Estate Equities by 45.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,278 shares of the real estate investment trust’s stock worth $1,801,000 after purchasing an additional 4,459 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Alexandria Real Estate Equities by 336.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 105,067 shares of the real estate investment trust’s stock worth $13,256,000 after purchasing an additional 80,991 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Alexandria Real Estate Equities by 7.3% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 14,435 shares of the real estate investment trust’s stock worth $1,821,000 after purchasing an additional 987 shares during the last quarter. Lourd Capital LLC acquired a new position in shares of Alexandria Real Estate Equities during the 3rd quarter worth about $256,000. Finally, SG Americas Securities LLC increased its stake in shares of Alexandria Real Estate Equities by 45.3% during the 2nd quarter. SG Americas Securities LLC now owns 43,292 shares of the real estate investment trust’s stock worth $5,462,000 after purchasing an additional 13,489 shares during the last quarter.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.

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