Alexandria Real Estate Equities (NYSE:ARE) Price Target Raised to $162.00

Alexandria Real Estate Equities (NYSE:ARE) had its target price raised by Citigroup from $157.00 to $162.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the real estate investment trust’s stock.

ARE has been the topic of a number of other research reports. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, May 16th. ValuEngine downgraded shares of Alexandria Real Estate Equities from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, GMP Securities reissued an average rating and issued a $26.00 price objective on shares of Alexandria Real Estate Equities in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Alexandria Real Estate Equities currently has a consensus rating of Buy and a consensus price target of $100.50.

ARE opened at $146.45 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market capitalization of $16.36 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The business has a 50 day simple moving average of $144.30. Alexandria Real Estate Equities has a 12-month low of $109.04 and a 12-month high of $153.51.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.04). The business had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $366.81 million. Alexandria Real Estate Equities had a return on equity of 5.00% and a net margin of 28.05%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, research analysts predict that Alexandria Real Estate Equities will post 6.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $1.00 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.97. The ex-dividend date was Thursday, June 27th. This represents a $4.00 dividend on an annualized basis and a yield of 2.73%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 60.61%.

In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $143.59, for a total transaction of $646,155.00. Following the sale, the chief executive officer now owns 169,975 shares in the company, valued at approximately $24,406,710.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marc E. Binda sold 3,775 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.04, for a total transaction of $551,301.00. Following the sale, the executive vice president now owns 39,569 shares in the company, valued at approximately $5,778,656.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,725 shares of company stock worth $5,889,835. 1.43% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ARE. Principal Financial Group Inc. raised its position in shares of Alexandria Real Estate Equities by 7.5% during the first quarter. Principal Financial Group Inc. now owns 5,093,085 shares of the real estate investment trust’s stock valued at $726,070,000 after buying an additional 356,441 shares during the last quarter. Geode Capital Management LLC increased its position in Alexandria Real Estate Equities by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 1,694,216 shares of the real estate investment trust’s stock worth $194,957,000 after purchasing an additional 168,461 shares during the last quarter. Resolution Capital Ltd increased its position in Alexandria Real Estate Equities by 9.8% in the second quarter. Resolution Capital Ltd now owns 1,665,066 shares of the real estate investment trust’s stock worth $234,924,000 after purchasing an additional 148,349 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alexandria Real Estate Equities by 14.8% in the second quarter. JPMorgan Chase & Co. now owns 1,090,362 shares of the real estate investment trust’s stock worth $152,715,000 after purchasing an additional 140,199 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in Alexandria Real Estate Equities by 21.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 730,942 shares of the real estate investment trust’s stock worth $103,129,000 after purchasing an additional 131,050 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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 $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.

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