Alexandria Real Estate Equities (NYSE:ARE) Stock Gets Downgrade from Bank of America

Alexandria Real Estate Equities (NYSE:ARE) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Friday, FinViz reports. They presently have a $45.00 price target on the real estate investment trust’s stock, down from their prior price target of $55.00. Bank of America‘s target price would suggest a potential upside of 1.70% from the stock’s previous close.

A number of other equities research analysts also recently commented on ARE. Citizens Jmp reaffirmed a “market perform” rating on shares of Alexandria Real Estate Equities in a research report on Monday, August 17th. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 price objective on the stock. in a research report on Thursday, September 24th. Citigroup cut their price objective on Alexandria Real Estate Equities from $50.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. BNP Paribas Exane reduced their target price on shares of Alexandria Real Estate Equities from $40.00 to $37.00 and set an “underperform” rating for the company in a report on Wednesday, October 28th. Finally, Jefferies Financial Group decreased their target price on shares of Alexandria Real Estate Equities from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alexandria Real Estate Equities has an average rating of “Reduce” and an average price target of $49.47.

Alexandria Real Estate Equities Stock Down 1.9%

Shares of Alexandria Real Estate Equities stock opened at $44.25 on Friday. The company has a 50-day simple moving average of $46.66 and a two-hundred day simple moving average of $49.11. Alexandria Real Estate Equities has a 52-week low of $38.34 and a 52-week high of $59.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $7.71 billion, a PE ratio of -5.25 and a beta of 1.17.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The business had revenue of $671.18 million during the quarter, compared to the consensus estimate of $646.26 million. During the same period last year, the company posted $2.22 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. On average, analysts anticipate that Alexandria Real Estate Equities will post 6.39 EPS for the current fiscal year.

Insider Activity

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus acquired 5,000 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was purchased at an average price of $49.68 per share, with a total value of $248,400.00. Following the completion of the purchase, the chairman directly owned 597,724 shares in the company, valued at approximately $29,694,928.32. The trade was a 0.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $50.51, for a total value of $849,073.10. Following the sale, the executive vice president owned 39,152 shares of the company’s stock, valued at $1,977,567.52. This represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of institutional investors have recently added to or reduced their stakes in ARE. Bleakley Financial Group LLC lifted its holdings in shares of Alexandria Real Estate Equities by 80.2% in the third quarter. Bleakley Financial Group LLC now owns 44,549 shares of the real estate investment trust’s stock worth $2,114,000 after buying an additional 19,833 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at $1,294,000. Ingalls & Snyder LLC bought a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at $71,000. Gabelli Funds LLC purchased a new stake in Alexandria Real Estate Equities in the 3rd quarter worth $454,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Alexandria Real Estate Equities in the 3rd quarter worth $127,000. 96.54% of the stock is owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc. is a real estate investment trust specializing in life science, technology and other knowledge-based industries. Founded in 1994, the company develops, owns and operates collaborative campuses that bring together companies, researchers and institutions. Its properties include laboratory, office and manufacturing space, as well as related facilities and amenities designed to support research and innovation. Alexandria also makes strategic investments in companies in the life science and technology sectors through its venture investment platform.