Wedbush Trims Alexandria Real Estate Equities (NYSE:ARE) Target Price to $120.00

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) had its target price cut by equities researchers at Wedbush from $130.00 to $120.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Wedbush's target price would suggest a potential upside of 0.08% from the company's previous close.

Several other brokerages have also weighed in on ARE. Bank of America lowered Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. BMO Capital Markets upgraded Alexandria Real Estate Equities to a "hold" rating in a report on Wednesday, September 25th. Evercore ISI reduced their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating for the company in a research note on Wednesday. JMP Securities restated a "market outperform" rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and reduced their price objective for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $131.78.

Alexandria Real Estate Equities Stock Up 1.6 %

Shares of ARE stock traded up $1.93 during trading on Wednesday, hitting $119.90. 1,933,239 shares of the company were exchanged, compared to its average volume of 977,298. The business's 50-day simple moving average is $119.18 and its 200 day simple moving average is $118.79. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 112.06, a P/E/G ratio of 3.99 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. During the same period last year, the business earned $2.26 EPS. The company's quarterly revenue was up 10.9% on a year-over-year basis. As a group, analysts forecast that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several large investors have recently made changes to their positions in ARE. M&G Plc bought a new stake in Alexandria Real Estate Equities in the 1st quarter valued at $204,001,000. Russell Investments Group Ltd. lifted its stake in shares of Alexandria Real Estate Equities by 153.0% in the first quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust's stock valued at $100,205,000 after buying an additional 470,076 shares during the period. DAVENPORT & Co LLC acquired a new stake in Alexandria Real Estate Equities during the first quarter worth about $55,075,000. Raymond James & Associates increased its stake in Alexandria Real Estate Equities by 501.1% during the third 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 during the period. Finally, Vanguard Group Inc. raised its holdings in Alexandria Real Estate Equities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 26,784,689 shares of the real estate investment trust's stock valued at $3,452,814,000 after acquiring an additional 156,643 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company's stock.

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.