Zacks Investment Research Downgrades Alexandria Real Estate Equities (ARE) to Hold

Zacks Investment Research lowered shares of Alexandria Real Estate Equities (NYSE:ARE) from a buy rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “Shares of Alexandria have outperformed the industry in the past six months. Moreover, the stock has seen the Zacks Consensus Estimate for first quarter 2018 funds from operations (FFO) per share remain unchanged in a month’s time. Notably, strong fundamentals of the life science industry have enabled the company’s Class A properties in upscale locations to enjoy high occupancy. Also, Alexandria’s effort to improve credit profile is encouraging. It has adequate capital buffer which will likely cushion its position during any adverse situation. However, dilutive impact of dispositions on earnings and rise in interest rates remain concerns. Moreover, the company’s global footprint makes its profitability vulnerable to currency fluctuations.”

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A number of other equities research analysts have also weighed in on ARE. Canaccord Genuity reissued a buy rating and set a $20.37 price objective on shares of Alexandria Real Estate Equities in a report on Monday, December 11th. Barclays boosted their price objective on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an overweight rating in a report on Tuesday, January 30th. TheStreet lowered shares of Alexandria Real Estate Equities from a b- rating to a c rating in a report on Friday, February 2nd. Royal Bank of Canada reissued an outperform rating and set a $135.00 price objective on shares of Alexandria Real Estate Equities in a report on Monday, February 12th. Finally, ValuEngine raised shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Alexandria Real Estate Equities currently has an average rating of Buy and an average price target of $102.20.

Shares of ARE opened at $122.07 on Wednesday. The firm has a market cap of $12,469.59, a PE ratio of 20.28, a P/E/G ratio of 3.04 and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.38 and a current ratio of 0.38. Alexandria Real Estate Equities has a 1-year low of $111.59 and a 1-year high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($1.16). The company had revenue of $298.79 million for the quarter, compared to analysts’ expectations of $293.63 million. Alexandria Real Estate Equities had a net margin of 14.77% and a return on equity of 3.08%. Alexandria Real Estate Equities’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $1.42 earnings per share. sell-side analysts anticipate that Alexandria Real Estate Equities will post 6.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.60 dividend on an annualized basis and a yield of 2.95%. Alexandria Real Estate Equities’s dividend payout ratio is presently 59.80%.

In related news, COO Stephen Richardson sold 3,750 shares of the business’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $123.32, for a total transaction of $462,450.00. Following the completion of the transaction, the chief operating officer now directly owns 124,972 shares in the company, valued at $15,411,547.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joel S. Marcus sold 30,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $125.37, for a total transaction of $3,761,100.00. Following the transaction, the chief executive officer now owns 671,358 shares of the company’s stock, valued at $84,168,152.46. The disclosure for this sale can be found here. Insiders have sold 71,618 shares of company stock valued at $8,935,609 over the last 90 days. 1.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARE. BlackRock Inc. lifted its position in Alexandria Real Estate Equities by 9.3% during the fourth quarter. BlackRock Inc. now owns 10,163,374 shares of the real estate investment trust’s stock valued at $1,327,236,000 after purchasing an additional 867,397 shares during the period. AMP Capital Investors Ltd raised its position in shares of Alexandria Real Estate Equities by 91.1% in the third quarter. AMP Capital Investors Ltd now owns 1,011,892 shares of the real estate investment trust’s stock worth $120,385,000 after acquiring an additional 482,400 shares during the period. Cbre Clarion Securities LLC raised its position in shares of Alexandria Real Estate Equities by 16.3% in the fourth quarter. Cbre Clarion Securities LLC now owns 3,075,993 shares of the real estate investment trust’s stock worth $401,694,000 after acquiring an additional 431,156 shares during the period. Renaissance Technologies LLC raised its position in shares of Alexandria Real Estate Equities by 89.4% in the fourth quarter. Renaissance Technologies LLC now owns 512,100 shares of the real estate investment trust’s stock worth $66,875,000 after acquiring an additional 241,660 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Alexandria Real Estate Equities by 156.7% in the fourth quarter. Bank of Montreal Can now owns 374,630 shares of the real estate investment trust’s stock worth $48,924,000 after acquiring an additional 228,688 shares during the period. Institutional investors own 98.93% of the company’s stock.

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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.

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