JMP Securities Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $130.00

Alexandria Real Estate Equities (NYSE:ARE) had its price target decreased by JMP Securities from $140.00 to $130.00 in a report released on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the company. Bank of America downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price (down from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $112.00 in a research report on Friday. Finally, Wedbush reduced their price objective on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $127.30.

Alexandria Real Estate Equities Stock Performance

ARE stock opened at $105.22 on Friday. The firm has a 50-day simple moving average of $116.84 and a two-hundred day simple moving average of $117.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. Alexandria Real Estate Equities has a one year low of $102.24 and a one year high of $135.45. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 64.16, a PEG ratio of 3.95 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The firm had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. Alexandria Real Estate Equities’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.26 earnings per share. On average, equities analysts forecast that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 annualized dividend and a dividend yield of 4.94%. Alexandria Real Estate Equities’s dividend payout ratio is presently 317.07%.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Alexandria Real Estate Equities by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust’s stock valued at $3,452,814,000 after buying an additional 156,643 shares in the last quarter. State Street Corp lifted its holdings in Alexandria Real Estate Equities by 1.1% during the third quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock valued at $1,270,634,000 after purchasing an additional 112,864 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Alexandria Real Estate Equities by 0.9% in the second quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock valued at $476,455,000 after purchasing an additional 35,216 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Alexandria Real Estate Equities by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock worth $291,045,000 after purchasing an additional 72,934 shares in the last quarter. Finally, M&G Plc raised its position in shares of Alexandria Real Estate Equities by 4.9% during the 2nd quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock worth $194,114,000 after purchasing an additional 77,686 shares during the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.