Alexandria Real Estate Equities (NYSE:ARE) Given New $127.00 Price Target at Evercore ISI

Alexandria Real Estate Equities (NYSE:ARE) had its price objective increased by analysts at Evercore ISI from $126.00 to $127.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential upside of 7.82% from the stock’s previous close.

ARE has been the topic of several other reports. Royal Bank of Canada decreased their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $130.00 in a research note on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Bank of America downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Finally, Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their price target for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Alexandria Real Estate Equities has an average rating of “Hold” and an average target price of $131.33.

Alexandria Real Estate Equities Price Performance

Shares of Alexandria Real Estate Equities stock opened at $117.79 on Wednesday. The stock’s fifty day moving average is $117.94 and its 200 day moving average is $119.83. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market cap of $20.60 billion, a P/E ratio of 110.08, a P/E/G ratio of 4.00 and a beta of 1.15.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). The business had revenue of $766.70 million during the quarter, compared to the consensus estimate of $775.03 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $2.24 EPS. Sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.48 earnings per share for the current year.

Insider Transactions at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of large investors have recently modified their holdings of ARE. Norges Bank acquired a new position in shares of Alexandria Real Estate Equities in the fourth quarter valued at about $2,086,085,000. M&G Plc acquired a new position in Alexandria Real Estate Equities in the 1st quarter worth approximately $204,001,000. Russell Investments Group Ltd. raised its position in Alexandria Real Estate Equities by 153.0% during the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust’s stock worth $100,205,000 after buying an additional 470,076 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in Alexandria Real Estate Equities during the 1st quarter valued at approximately $55,075,000. Finally, First Financial Bankshares Inc purchased a new stake in shares of Alexandria Real Estate Equities in the 4th quarter valued at $31,260,000. 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.