Credit Suisse Group investment analysts began coverage of shares of Alexandria Real Estate Equities (NYSE:ARE – Valuation Received) in a research report released for clients and investors on Wednesday, reports The Fly. The company gave Real Estate Investment Trust shares a neutral rating.
Other research analysts have also recently issued research reports on the company. StockNews.com downgraded Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report Thursday, April 28. TheStreet downgraded Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11. One equities research analyst has rated the stock with a sell rating, two have given it a hold rating and five have given it a buy rating. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $180.80.
Shares of ARE traded around $1.77 on Wednesday, hitting $133.39. The company’s shares had a trading volume of 1,864,899 shares compared to an average volume of 1,081,231. The company has a market cap of $21.77 billion, a PE ratio of 47.81, a PEG ratio of 2.03 and a beta of 0.85. 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 has a 52-week low of $130.00 and a 52-week high of $224.95. The company has a 50-day moving average price of $168.05 and a 200-day moving average price of $189.10.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The Real Estate Investment Trust reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.71). Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. The company had revenue of $615.10 million for the quarter, compared to analyst estimates of $595.35 million. In the same period last year, the company posted $1.91 per share. The company’s quarterly revenue increased 28.2% compared to the same quarter last year. On average, equity analysts are forecasting that Alexandria Real Estate Equities will post 8.4 EPS for the year to date.
In related news, CEO Stephen Richardson sold 5,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares sold at an average price of $171.47 for a total value 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 filing with the SEC available at this link. Also on Wednesday, April 27, General Counsel Jackie B. Clem sold 1,865 shares of the company’s shares in a transaction. The shares sold at an average price of $189.55 for a total transaction of $353,510.75. Following the closing of the sale, General Counsel now owns 24,039 shares of the Company’s stock valued at approximately $4,556,592.45. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their holdings in ARE. Norges Bank acquired a new stake in shares of Alexandria Real Estate Equities valued at $3,007,227,000 during the fourth quarter. JPMorgan Chase & Co. increased its position in shares of 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 position in shares of 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 position in shares of Alexandria Real Estate Equities by 4.7% during 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 position in shares of Alexandria Real Estate Equities by 41.1% during 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. Institutional investors and hedge funds own 94.49% of the company’s shares.
Alexandria Real Estate Equities Company Profile (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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