Alexandria Real Estate Equities (NYSE:ARE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Shares of Alexandria have outperformed the industry in the past six months. Further, the stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share being revised upward in a month’s time. The fundamentals of the life science industry remain strong and the company’s solid portfolio, consisting of Class A properties in upscale locations, enjoys strong demand. This enables the company to enjoy high occupancy and generate steady rental revenues from its properties. Moreover, on Jan 8, Alexandria closed the public offering of 6.9 million shares. This adds to its existing capital buffer which will likely cushion its position during any adverse situation. However, sale of non-core assets is anticipated to have a dilutive impact on earnings and rate hike add to its woes.”
ARE has been the subject of several other reports. Mizuho restated a “buy” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, November 1st. Bank of America upped their price objective on shares of Alexandria Real Estate Equities from $129.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. National Bank Financial cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Monday, October 23rd. Canaccord Genuity reiterated a “buy” rating and set a $20.37 price objective on shares of Alexandria Real Estate Equities in a research report on Monday, December 11th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Alexandria Real Estate Equities in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $100.62.
Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, October 30th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.96). The firm had revenue of $285.60 million during the quarter, compared to analyst estimates of $286.11 million. Alexandria Real Estate Equities had a net margin of 20.87% and a return on equity of 3.95%. Alexandria Real Estate Equities’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 earnings per share. sell-side analysts predict that Alexandria Real Estate Equities will post 6.02 earnings per share for the current fiscal year.
In related news, CEO Joel S. Marcus sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $129.60, for a total transaction of $3,564,000.00. Following the completion of the transaction, the chief executive officer now directly owns 623,936 shares in the company, valued at approximately $80,862,105.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter M. Moglia sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $127.13, for a total transaction of $635,650.00. Following the sale, the insider now directly owns 116,867 shares in the company, valued at $14,857,301.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,250 shares of company stock valued at $7,986,230. 1.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ARE. Muzinich & Co. Inc. grew its holdings in Alexandria Real Estate Equities by 30.4% during the 2nd quarter. Muzinich & Co. Inc. now owns 943 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 220 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in Alexandria Real Estate Equities during the 3rd quarter worth approximately $154,000. V Wealth Management LLC bought a new stake in Alexandria Real Estate Equities during the 4th quarter worth approximately $212,000. Fox Run Management L.L.C. bought a new stake in Alexandria Real Estate Equities during the 3rd quarter worth approximately $226,000. Finally, California Capital Advisors Inc. bought a new stake in Alexandria Real Estate Equities during the 3rd quarter worth approximately $232,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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