Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) shares have received a consensus rating of “Buy” from the eight research firms currently covering the company, reports MarketBeat.com. One equities research analyst has rated the stock with a sell rating, one with a hold rating and four with a buy rating. The average 12-month target price among brokers who have rated the stock over the past year is $180.80.
Several research companies have issued reports on ARE. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Thursday, April 28. TheStreet downgraded shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a research note on Friday, March 11.
Also, CEO Stephen Richardson sold 5,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $171.47 for a total transaction of $857,350.00. Upon completion of the sale, the Chief Executive Officer now owns 175,602 shares of the Company, valued at approximately $30,110,474.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, Director James P. Cain sold 425 shares of the company’s stock in a transaction on Wednesday, March 16. The shares sold at an average price of $193.26 for a total transaction of $82,135.50. The disclosure for this sale can be found here. Insiders have sold a total of 7,290 shares of the company’s shares valued at $1,292,996 over the past ninety days. Insiders own 0.96% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ARE. Norges Bank acquired a new stake in Alexandria Real Estate Equities valued at approximately $3,007,227,000 during the fourth quarter. JPMorgan Chase & Co. increased its holdings in Alexandria Real Estate Equities by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 4,417,362 shares of the Real Estate Investment Trust valued at $888,995,000 after purchasing an additional 1,383,240 shares last quarter. State Street Corp increased its holdings in Alexandria Real Estate Equities by 13.6% in the first quarter. State Street Corp now owns 10,367,269 shares of Real Estate Investment Trust worth $2,097,960,000 after purchasing an additional 1,238,751 shares last quarter. Vanguard Group Inc. increased its holding in Alexandria Real Estate Equities by 4.7% in the first quarter. Vanguard Group Inc. now owns 24,897,323 shares of Real Estate Investment Trust valued at $5,010,585,000 after purchasing an additional 1,114,118 shares last quarter. Finally, Parnassus Investments LLC increased its holdings in Alexandria Real Estate Equities by 41.1% in the first quarter. Parnassus Investments LLC now owns 3,459,409 shares of Real Estate Investment Trust valued at $696,206,000 after purchasing an additional 1,008,054 shares last quarter. 94.49% of the shares are owned by institutional investors.
Alexandria Real Estate Equities shares opened at $162.57 on Tuesday. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 2.52, and a beta of 0.85. The company’s 50-day moving average is $181.57 and its 200-day moving average is $193.91. Alexandria Real Estate Equities has a 1 year low of $156.94 and a 1 year high of $224.95. The company has a leverage ratio of 0.51, a current ratio of 0.40 and a quick ratio of 0.40.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last announced its quarterly results on Monday, April 25th. The Real Estate Investment Trust reported ($0.96) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.75 ($1.71). The company had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. The company’s revenue for the quarter rose 28.2% year over year. In the same quarter last year, the company earned $1.91 per share. On average, equity analysts expect Alexandria Real Estate Equities to post 8.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30 will receive a dividend of $1.18 per share. The ex-dividend date is Wednesday June 29th. That equates to an annualized dividend of $4.72 and a dividend yield of 2.90%. This is a positive change from Alexandria Real Estate Equities’ previous quarterly dividend of $1.15. Alexandria Real Estate Equities’ payout ratio is currently 164.88%.
About Alexandria Real Estate Equities (get rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500®– Urban Office Investment Trust (“REIT”), is the first, longest-serving and pioneering owner, operator and developer with a unique focus on collaborative life science, technology and agtech campuses in locations of AAA innovation clusters with a total market capitalization of $31.9 billion as of December 31, 2020 and a North American asset base of 49.7 million square feet (“SF”)).
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