Alexandria Real Estate Equities (NYSE:ARE) Given New $195.00 Price Target at Citigroup

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Alexandria Real Estate Equities (NYSE:ARE) had its price objective lifted by Citigroup from $178.00 to $195.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on ARE. JPMorgan Chase & Co. upgraded shares of Alexandria Real Estate Equities from a neutral rating to an overweight rating and boosted their price objective for the company from $147.00 to $169.00 in a research report on Wednesday, December 18th. Raymond James set a $26.00 price objective on shares of Alexandria Real Estate Equities and gave the company a strong-buy rating in a research report on Saturday, December 21st. Evercore ISI initiated coverage on shares of Alexandria Real Estate Equities in a research report on Friday, February 7th. They set a buy rating and a $182.00 price objective for the company. Royal Bank of Canada downgraded shares of Alexandria Real Estate Equities from a top pick rating to an outperform rating and boosted their price objective for the company from $155.00 to $165.00 in a research report on Wednesday, December 18th. Finally, Robert W. Baird boosted their price objective on shares of Alexandria Real Estate Equities from $162.00 to $168.00 and gave the company a neutral rating in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $134.69.

ARE traded up $1.35 during trading on Thursday, hitting $174.93. 463,500 shares of the stock traded hands, compared to its average volume of 968,594. Alexandria Real Estate Equities has a twelve month low of $133.38 and a twelve month high of $175.02. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 5.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.19 and a quick ratio of 0.19. The business has a 50 day moving average price of $163.34 and a 200 day moving average price of $156.30.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, February 3rd. The real estate investment trust reported $1.74 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.04). Alexandria Real Estate Equities had a net margin of 23.72% and a return on equity of 4.07%. The firm had revenue of $408.11 million for the quarter, compared to analyst estimates of $398.98 million. During the same quarter in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities research analysts predict that Alexandria Real Estate Equities will post 7.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, December 30th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.00. Alexandria Real Estate Equities’s payout ratio is presently 59.20%.

In other Alexandria Real Estate Equities news, COO Jennifer Banks sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $172.70, for a total transaction of $431,750.00. Following the sale, the chief operating officer now owns 64,556 shares of the company’s stock, valued at $11,148,821.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas J. Andrews sold 16,250 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $173.13, for a total transaction of $2,813,362.50. Following the sale, the insider now directly owns 138,547 shares in the company, valued at approximately $23,986,642.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,540 shares of company stock worth $4,417,121. Insiders own 1.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ARE. Goldman Sachs Group Inc. grew its stake in shares of Alexandria Real Estate Equities by 128.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,288,791 shares of the real estate investment trust’s stock worth $692,982,000 after buying an additional 2,409,703 shares during the last quarter. PGGM Investments grew its stake in shares of Alexandria Real Estate Equities by 105.0% during the fourth quarter. PGGM Investments now owns 1,294,410 shares of the real estate investment trust’s stock worth $209,151,000 after buying an additional 662,920 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Alexandria Real Estate Equities by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 5,337,968 shares of the real estate investment trust’s stock worth $862,509,000 after buying an additional 181,054 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Alexandria Real Estate Equities by 35.6% during the third quarter. Russell Investments Group Ltd. now owns 555,250 shares of the real estate investment trust’s stock worth $85,411,000 after buying an additional 145,713 shares during the last quarter. Finally, Resolution Capital Ltd grew its stake in shares of Alexandria Real Estate Equities by 6.8% during the fourth quarter. Resolution Capital Ltd now owns 1,631,759 shares of the real estate investment trust’s stock worth $263,660,000 after buying an additional 103,563 shares during the last quarter. 93.34% of the stock is currently owned by hedge funds and other institutional investors.

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

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