StockNews.com Upgrades Alexandria Real Estate Equities (NYSE:ARE) to “Hold”

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

ARE has been the subject of a number of other research reports. Mizuho cut their price target on shares of Alexandria Real Estate Equities from $219.00 to $172.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. JMP Securities cut their price target on shares of Alexandria Real Estate Equities from $230.00 to $200.00 and set a “market outperform” rating for the company in a report on Wednesday, July 27th. Finally, Credit Suisse Group started coverage on shares of Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They set a “neutral” rating and a $140.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and a consensus target price of $193.40.

Alexandria Real Estate Equities Price Performance

ARE stock traded down $0.13 during mid-day trading on Friday, reaching $159.78. The company’s stock had a trading volume of 525,901 shares, compared to its average volume of 1,090,162. The stock has a market cap of $26.07 billion, a PE ratio of 86.37, a P/E/G ratio of 2.46 and a beta of 0.92. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.50. Alexandria Real Estate Equities has a fifty-two week low of $130.00 and a fifty-two week high of $224.95. The company’s 50 day moving average is $149.34 and its two-hundred day moving average is $174.37.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $1.01. The company had revenue of $643.80 million during the quarter, compared to the consensus estimate of $633.13 million. Alexandria Real Estate Equities had a net margin of 12.54% and a return on equity of 1.93%. Alexandria Real Estate Equities’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. Equities research analysts expect that Alexandria Real Estate Equities will post 8.4 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was purchased at an average price of $1.00 per share, with a total value of $3,500,000.00. Following the transaction, the insider now owns 4,555,077 shares of the company’s stock, valued at approximately $4,555,077. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria purchased 3,500,000 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was bought at an average price of $1.00 per share, with a total value of $3,500,000.00. Following the transaction, the insider now directly owns 4,555,077 shares of the company’s stock, valued at approximately $4,555,077. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Richardson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $171.47, for a total transaction of $857,350.00. Following the completion of the transaction, the chief executive officer now directly owns 175,602 shares of the company’s stock, valued at approximately $30,110,474.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,105 shares of company stock valued at $1,358,476. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Alexandria Real Estate Equities by 4.7% in the 1st 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 buying an additional 1,114,118 shares during the period. BlackRock Inc. lifted its position in shares of Alexandria Real Estate Equities by 1.5% during the 1st quarter. BlackRock Inc. now owns 15,139,838 shares of the real estate investment trust’s stock worth $3,046,894,000 after purchasing an additional 226,651 shares during the last quarter. Norges Bank purchased a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth $3,007,227,000. State Street Corp lifted its position in shares of Alexandria Real Estate Equities by 13.6% during the 1st quarter. State Street Corp now owns 10,367,269 shares of the real estate investment trust’s stock worth $2,097,960,000 after purchasing an additional 1,238,751 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Alexandria Real Estate Equities by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 5,130,083 shares of the real estate investment trust’s stock worth $1,032,429,000 after purchasing an additional 224,811 shares during the last quarter. Hedge funds and other institutional investors own 94.49% of the company’s stock.

About Alexandria Real Estate Equities

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Alexandria Real Estate Equities, Inc (NYSE:ARE), an 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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Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]etbeat.com.

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