Alexandria Real Estate Equities (NYSE:ARE) Given New $114.00 Price Target at Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE) had its price target cut by equities researchers at Royal Bank of Canada from $125.00 to $114.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 11.52% from the company’s previous close.

A number of other equities research analysts have also commented on the company. JMP Securities decreased their price objective on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th. Evercore ISI cut their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their target price for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and set a $110.00 price objective (down previously from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.82.

Alexandria Real Estate Equities Stock Up 0.8 %

Shares of NYSE:ARE traded up $0.85 during trading hours on Tuesday, reaching $102.22. The stock had a trading volume of 194,704 shares, compared to its average volume of 1,009,315. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 62.10, a P/E/G ratio of 3.87 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20. The firm’s 50 day moving average is $111.23 and its 200-day moving average is $115.77. Alexandria Real Estate Equities has a 1 year low of $100.40 and a 1 year high of $131.82.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The firm had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. Alexandria Real Estate Equities’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.26 EPS. Research analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Hedge funds and other institutional investors have recently bought and sold shares of the business. Catalyst Capital Advisors LLC acquired a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in shares of Alexandria Real Estate Equities by 132.8% in the 2nd quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC bought a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC raised its position in Alexandria Real Estate Equities by 144.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. 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.