Alexandria Real Estate Equities (NYSE:ARE) Given New $42.00 Price Target at Citigroup

Alexandria Real Estate Equities (NYSE:ARE) had its price target decreased by Citigroup from $50.00 to $42.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on ARE. Cantor Fitzgerald reduced their target price on Alexandria Real Estate Equities from $52.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group decreased their target price on Alexandria Real Estate Equities from $47.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. BMO Capital Markets lowered their price target on Alexandria Real Estate Equities from $52.00 to $48.00 and set a “market perform” rating on the stock in a report on Monday, September 28th. Robert W. Baird upped their price target on Alexandria Real Estate Equities from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, August 24th. Finally, The Goldman Sachs Group increased their price objective on Alexandria Real Estate Equities from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 18th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $49.36.

Alexandria Real Estate Equities Stock Down 1.2%

ARE stock opened at $40.12 on Friday. Alexandria Real Estate Equities has a 52-week low of $38.34 and a 52-week high of $59.76. The company’s 50 day simple moving average is $48.10 and its 200-day simple moving average is $49.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.14 and a quick ratio of 0.19. The firm has a market capitalization of $6.99 billion, a P/E ratio of -4.76 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing the consensus estimate of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The firm had revenue of $671.18 million during the quarter, compared to analysts’ expectations of $646.26 million. During the same quarter last year, the company posted $2.22 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Alexandria Real Estate Equities will post 6.39 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Wednesday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is -34.20%.

Insider Transactions at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $50.51, for a total transaction of $849,073.10. Following the completion of the sale, the executive vice president owned 39,152 shares of the company’s stock, valued at $1,977,567.52. This represents a 30.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andres Gavinet sold 10,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $50.93, for a total value of $509,300.00. Following the transaction, the chief accounting officer owned 102,516 shares in the company, valued at approximately $5,221,139.88. This trade represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Alexandria Real Estate Equities during the second quarter valued at approximately $26,000. First Bancorp Inc ME acquired a new position in shares of Alexandria Real Estate Equities in the 2nd quarter worth approximately $26,000. Reyes Financial Architecture Inc. acquired a new position in shares of Alexandria Real Estate Equities in the 3rd quarter worth approximately $27,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Alexandria Real Estate Equities during the 3rd quarter worth approximately $29,000. Finally, Basecamp Wealth Advisors LLC lifted its position in shares of Alexandria Real Estate Equities by 3,723.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 650 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 633 shares during the period. Institutional investors own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.