Alexandria Real Estate Equities, Inc. (NYSE:ARE) Stock Has Average Target Price of $49.36

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) have been assigned a consensus recommendation of “Reduce” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $49.36.

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Royal Bank Of Canada set a $41.00 price objective on Alexandria Real Estate Equities in a research report on Monday, October 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Alexandria Real Estate Equities in a report on Thursday, October 15th. Evercore restated an “outperform” rating and issued a $59.00 target price on shares of Alexandria Real Estate Equities in a research report on Monday, September 21st. Finally, The Goldman Sachs Group boosted their target price on Alexandria Real Estate Equities from $54.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 18th.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $40.12 on Friday. 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 0.19 and a current ratio of 0.14. The company has a market capitalization of $6.99 billion, a P/E ratio of -4.76 and a beta of 1.16. The company has a fifty day moving average of $48.10 and a 200-day moving average of $49.70.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $671.18 million during the quarter, compared to the consensus estimate of $646.26 million. During the same period in the prior year, the company earned $2.22 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Alexandria Real Estate Equities will post 6.39 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 7.2%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is -34.20%.

Insiders Place Their Bets

In other news, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $50.51, for a total value of $849,073.10. Following the completion of the sale, the executive vice president directly owned 39,152 shares in the company, valued at approximately $1,977,567.52. The trade was a 30.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joel S. Marcus acquired 5,000 shares of the stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $49.68 per share, with a total value of $248,400.00. Following the completion of the acquisition, the chairman 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 SEC filing for this purchase provides additional information. Insiders own 1.35% of the company’s stock.

Institutional Trading of Alexandria Real Estate Equities

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Alexandria Real Estate Equities during the second quarter valued at about $1,146,423,000. Bank of New York Mellon Corp purchased a new position in shares of Alexandria Real Estate Equities in the second quarter worth about $79,253,000. Legal & General Group Plc bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $76,647,000. Hsbc Holdings PLC bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $64,485,000. Finally, Bank of America Corp DE bought a new stake in shares of Alexandria Real Estate Equities in the 2nd quarter valued at about $61,516,000. 96.54% of the stock is owned by institutional investors.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.