Alexandria Real Estate Equities (NYSE:ARE) PT Lowered to $130.00 at Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its target price lowered by Royal Bank of Canada from $135.00 to $130.00 in a research note published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

ARE has been the subject of several other reports. Bank of America lowered shares of Alexandria Real Estate Equities from a buy rating to a neutral rating and decreased their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. JMP Securities reissued a market outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Evercore ISI lowered shares of Alexandria Real Estate Equities from an outperform rating to an inline rating and reduced their price target for the stock from $133.00 to $126.00 in a research report on Thursday, July 25th. Wedbush lowered shares of Alexandria Real Estate Equities from an outperform rating to a neutral rating and reduced their price target for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a buy rating to a hold rating and reduced their price target for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of Hold and an average price target of $131.22.

Alexandria Real Estate Equities Stock Performance

Shares of Alexandria Real Estate Equities stock opened at $112.27 on Monday. The firm has a market capitalization of $19.63 billion, a P/E ratio of 107.71, a PEG ratio of 4.00 and a beta of 1.15. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $117.97 and a 200 day moving average price of $120.38. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). The company had revenue of $766.70 million during the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 earnings per share. Sell-side analysts expect that Alexandria Real Estate Equities will post 9.48 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.30 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.20 annualized dividend and a dividend yield of 4.63%. Alexandria Real Estate Equities’s payout ratio is presently 485.98%.

Insider Activity

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Ballentine Partners LLC purchased a new stake in Alexandria Real Estate Equities in the 4th quarter valued at about $228,000. Arizona State Retirement System raised its holdings in Alexandria Real Estate Equities by 0.7% in the 4th quarter. Arizona State Retirement System now owns 45,178 shares of the real estate investment trust’s stock valued at $5,727,000 after buying an additional 336 shares during the period. Allworth Financial LP raised its holdings in Alexandria Real Estate Equities by 139.1% in the 4th quarter. Allworth Financial LP now owns 428 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 249 shares during the period. New York State Teachers Retirement System raised its holdings in Alexandria Real Estate Equities by 1.6% in the 4th quarter. New York State Teachers Retirement System now owns 150,931 shares of the real estate investment trust’s stock valued at $19,134,000 after buying an additional 2,406 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Alexandria Real Estate Equities by 3.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,935 shares of the real estate investment trust’s stock valued at $3,668,000 after buying an additional 911 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.