Alexandria Real Estate Equities (NYSE:ARE) Price Target Cut to $200.00 by Analysts at Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) had its target price cut by stock analysts at Royal Bank of Canada from $220.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 36.70% from the company’s current price.

A number of other analysts also recently issued reports on ARE. BTIG Research decreased their price objective on shares of Alexandria Real Estate Equities from $233.00 to $186.00 in a report on Wednesday, October 19th. StockNews.com initiated coverage on shares of Alexandria Real Estate Equities in a report on Wednesday, October 12th. They set a “sell” rating for the company. Mizuho lifted their target price on shares of Alexandria Real Estate Equities from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. JMP Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Alexandria Real Estate Equities in a research note on Thursday, October 6th. Finally, Evercore ISI reduced their target price on shares of Alexandria Real Estate Equities from $194.00 to $182.00 and set an “outperform” rating for the company in a research note on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.67.

Alexandria Real Estate Equities Stock Up 2.5%

ARE opened at $146.31 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50-day moving average is $142.97 and its 200-day moving average is $152.64. Alexandria Real Estate Equities has a fifty-two week low of $126.74 and a fifty-two week high of $224.95. The firm has a market capitalization of $24.01 billion, a P/E ratio of 43.39, a PEG ratio of 2.26 and a beta of 0.91.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.01). Alexandria Real Estate Equities had a net margin of 21.73% and a return on equity of 3.03%. The firm had revenue of $659.90 million for the quarter, compared to the consensus estimate of $657.48 million. During the same period in the previous year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts expect that Alexandria Real Estate Equities will post 8.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Alexandria Real Estate Equities by 45.6% during the first quarter. JPMorgan Chase & Co. now owns 4,417,362 shares of the real estate investment trust’s stock valued at $888,995,000 after purchasing an additional 1,383,240 shares during the last quarter. State Street Corp lifted its position in Alexandria Real Estate Equities by 13.6% during the first quarter. State Street Corp now owns 10,367,269 shares of the real estate investment trust’s stock valued at $2,097,960,000 after purchasing an additional 1,238,751 shares during the last quarter. Vanguard Group Inc. lifted its position in Alexandria Real Estate Equities by 4.7% during the first quarter. Vanguard Group Inc. now owns 24,897,323 shares of the real estate investment trust’s stock valued at $5,010,585,000 after purchasing an additional 1,114,118 shares during the last quarter. Parnassus Investments LLC lifted its position in Alexandria Real Estate Equities by 41.1% during the first quarter. Parnassus Investments LLC now owns 3,459,409 shares of the real estate investment trust’s stock valued at $696,206,000 after purchasing an additional 1,008,054 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Alexandria Real Estate Equities by 188.7% during the first quarter. Centersquare Investment Management LLC now owns 1,341,308 shares of the real estate investment trust’s stock valued at $269,938,000 after purchasing an additional 876,725 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.

Alexandria Real Estate Equities Company Profile

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Alexandria Real Estate Equities, Inc (NYSE:ARE), on the S&P 500^® urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).

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