Alexandria Real Estate Equities (ARE) Shares Gap Down to $129.32

Alexandria Real Estate Equities Inc (NYSE:ARE)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $133.28, but opened at $129.32. Alexandria Real Estate Equities shares last traded at $126.74, with a volume of 2719641 shares changing hands.

A number of brokerages have recently weighed in on ARE. Canaccord Genuity reiterated a “buy” rating and issued a $20.37 target price on shares of Alexandria Real Estate Equities in a report on Monday, December 11th. Bank of America upgraded Alexandria Real Estate Equities from a “neutral” rating to a “buy” rating and set a $133.00 target price on the stock in a report on Monday, December 4th. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Mizuho reiterated a “buy” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, November 1st. Finally, National Bank Financial downgraded Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $20.00 to $18.00 in a report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $99.91.

The firm has a market capitalization of $12,130.00, a price-to-earnings ratio of 144.02 and a beta of 0.84. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.83.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.96). Alexandria Real Estate Equities had a return on equity of 3.69% and a net margin of 13.21%. The firm had revenue of $285.60 million during the quarter, compared to analyst estimates of $286.11 million. During the same quarter in the prior year, the company posted $1.39 EPS. The company’s quarterly revenue was up 24.0% on a year-over-year basis. analysts forecast that Alexandria Real Estate Equities Inc will post 6.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.60 dividend on an annualized basis and a yield of 2.84%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $0.86. Alexandria Real Estate Equities’s dividend payout ratio is currently 409.09%.

In related news, insider Peter M. Moglia sold 1,750 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $130.00, for a total value of $227,500.00. Following the transaction, the insider now owns 115,117 shares in the company, valued at $14,965,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter M. Moglia sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $127.13, for a total value of $635,650.00. Following the completion of the transaction, the insider now owns 116,867 shares in the company, valued at approximately $14,857,301.71. The disclosure for this sale can be found here. Insiders sold 62,250 shares of company stock worth $7,986,230 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ARE. Muzinich & Co. Inc. boosted its position in Alexandria Real Estate Equities by 30.4% during the second quarter. Muzinich & Co. Inc. now owns 943 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 220 shares during the period. Spirit of America Management Corp NY bought a new stake in Alexandria Real Estate Equities during the third quarter worth approximately $154,000. Fox Run Management L.L.C. bought a new stake in Alexandria Real Estate Equities during the third quarter worth approximately $226,000. California Capital Advisors Inc. bought a new stake in Alexandria Real Estate Equities during the third quarter worth approximately $232,000. Finally, Private Advisor Group LLC bought a new stake in Alexandria Real Estate Equities during the third quarter worth approximately $248,000.

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About Alexandria Real Estate Equities

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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