Evercore ISI Upgrades Alexandria Real Estate Equities Inc (ARE) to “Outperform”

Alexandria Real Estate Equities Inc (NYSE:ARE) was upgraded by equities research analysts at Evercore ISI to an “outperform” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $123.00 price objective on the real estate investment trust’s stock. Evercore ISI’s price objective would indicate a potential upside of 11.85% from the company’s current price.

ARE has been the subject of a number of other reports. Zacks Investment Research lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Mizuho restated a “buy” rating on shares of Alexandria Real Estate Equities in a research report on Friday, December 23rd. Finally, Barclays PLC dropped their target price on shares of Alexandria Real Estate Equities from $121.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Alexandria Real Estate Equities presently has an average rating of “Buy” and a consensus price target of $117.25.

Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

Shares of Alexandria Real Estate Equities (NYSE:ARE) opened at 109.97 on Tuesday. Alexandria Real Estate Equities has a 52-week low of $87.10 and a 52-week high of $120.96. The stock’s 50 day moving average is $114.27 and its 200 day moving average is $110.05. The stock’s market cap is $9.77 billion.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $1.15. The business earned $249.20 million during the quarter, compared to analyst estimates of $181.32 million. Alexandria Real Estate Equities had a negative net margin of 8.78% and a negative return on equity of 0.78%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. Equities research analysts forecast that Alexandria Real Estate Equities will post $1.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, March 29th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.02%. Alexandria Real Estate Equities’s dividend payout ratio is -165.17%.

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In related news, CEO Joel S. Marcus sold 13,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $108.52, for a total transaction of $1,410,760.00. Following the completion of the transaction, the chief executive officer now owns 723,619 shares in the company, valued at $78,527,133.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Andrews sold 10,000 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $119.26, for a total transaction of $1,192,600.00. Following the transaction, the executive vice president now owns 129,000 shares of the company’s stock, valued at approximately $15,384,540. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,500 shares of company stock valued at $4,472,060. 1.60% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Standard Life Investments LTD raised its position in shares of Alexandria Real Estate Equities by 1,021.2% in the third quarter. Standard Life Investments LTD now owns 1,080,739 shares of the real estate investment trust’s stock worth $117,579,000 after buying an additional 984,349 shares in the last quarter. State Treasurer State of Michigan raised its position in Alexandria Real Estate Equities by 6.1% in the third quarter. State Treasurer State of Michigan now owns 31,400 shares of the real estate investment trust’s stock valued at $3,415,000 after buying an additional 1,800 shares during the period. BlackRock Advisors LLC raised its position in Alexandria Real Estate Equities by 2.9% in the third quarter. BlackRock Advisors LLC now owns 98,441 shares of the real estate investment trust’s stock valued at $10,707,000 after buying an additional 2,735 shares during the period. Emerald Acquisition Ltd. raised its position in Alexandria Real Estate Equities by 55.9% in the third quarter. Emerald Acquisition Ltd. now owns 290,943 shares of the real estate investment trust’s stock valued at $31,650,000 after buying an additional 104,280 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Alexandria Real Estate Equities during the third quarter valued at approximately $30,934,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

About Alexandria Real Estate Equities

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.

5 Day Chart for NYSE:ARE

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