Royal Bank of Canada Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $114.00

Alexandria Real Estate Equities (NYSE:ARE - Free Report) had its price objective reduced by Royal Bank of Canada from $125.00 to $114.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust's stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $133.00 to $121.00 in a report 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. Evercore ISI decreased their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and decreased their target price for the company from $135.00 to $112.00 in a research note on Friday, November 15th. Finally, Wedbush reiterated an "outperform" rating and set a $110.00 price target (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research note on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of "Hold" and a consensus target price of $124.82.

Alexandria Real Estate Equities Price Performance

Shares of ARE traded up $0.96 on Tuesday, reaching $102.33. The stock had a trading volume of 1,473,231 shares, compared to its average volume of 1,014,709. The firm has a market capitalization of $17.88 billion, a PE ratio of 62.40, a PEG ratio of 3.87 and a beta of 1.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56. Alexandria Real Estate Equities has a twelve month low of $100.40 and a twelve month high of $131.82. The firm has a 50-day moving average of $111.00 and a 200 day moving average of $115.66.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The firm had revenue of $791.60 million for the quarter, compared to analysts' expectations of $766.97 million. During the same quarter last year, the firm earned $2.26 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 5.16%. This is a positive change from Alexandria Real Estate Equities's previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, December 31st. Alexandria Real Estate Equities's dividend payout ratio is 321.95%.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a share buyback plan on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC increased its holdings in shares of Alexandria Real Estate Equities by 11,449.8% in the third quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust's stock worth $169,056,000 after purchasing an additional 1,411,304 shares during the period. National Bank of Canada FI increased its stake in Alexandria Real Estate Equities by 350.0% in the 3rd quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust's stock worth $40,536,000 after acquiring an additional 265,508 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Alexandria Real Estate Equities by 501.1% in the 3rd quarter. Raymond James & Associates now owns 290,857 shares of the real estate investment trust's stock valued at $34,539,000 after acquiring an additional 242,466 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Alexandria Real Estate Equities by 114.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 435,416 shares of the real estate investment trust's stock valued at $51,706,000 after acquiring an additional 232,817 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Alexandria Real Estate Equities by 315.9% during the 3rd quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust's stock valued at $20,110,000 after acquiring an additional 128,634 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

Alexandria Real Estate Equities Company Profile

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.