Alexandria Real Estate Equities (NYSE:ARE) Upgraded to Hold by BMO Capital Markets

BMO Capital Markets upgraded shares of Alexandria Real Estate Equities (NYSE:ARE - Free Report) to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

A number of other research firms also recently weighed in on ARE. Wedbush downgraded Alexandria Real Estate Equities from an outperform rating to a neutral rating and lowered their target price for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. Citigroup downgraded Alexandria Real Estate Equities from a buy rating to a neutral rating and decreased their price objective for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Royal Bank of Canada decreased their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an outperform rating on the stock in a research note on Monday, August 5th. Bank of America downgraded Alexandria Real Estate Equities from a buy rating to a neutral rating and decreased their price objective for the stock from $151.00 to $126.00 in a research note on Monday, July 29th. Finally, Evercore ISI raised their price objective on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an in-line rating in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of Hold and an average price target of $130.70.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE traded down $0.57 during midday trading on Wednesday, reaching $121.02. 1,115,111 shares of the company's stock traded hands, compared to its average volume of 937,754. The company has a market cap of $21.16 billion, a price-to-earnings ratio of 113.11, a P/E/G ratio of 4.26 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 has a one year low of $90.73 and a one year high of $135.45. The stock has a 50 day moving average of $118.46 and a 200 day moving average of $119.77.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm had revenue of $766.70 million during the quarter, compared to the consensus estimate of $775.03 million. During the same period in the prior year, the company posted $2.24 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Monday, September 30th. Alexandria Real Estate Equities's dividend payout ratio is currently 485.98%.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Institutional investors and hedge funds have recently modified their holdings of the business. M&G Plc purchased a new position in shares of Alexandria Real Estate Equities in the 1st quarter valued at $204,001,000. Russell Investments Group Ltd. increased its holdings in shares of Alexandria Real Estate Equities by 153.0% in the 1st quarter. Russell Investments Group Ltd. now owns 777,345 shares of the real estate investment trust's stock valued at $100,205,000 after acquiring an additional 470,076 shares during the period. DAVENPORT & Co LLC purchased a new position in shares of Alexandria Real Estate Equities in the 1st quarter valued at $55,075,000. First Financial Bankshares Inc purchased a new position in shares of Alexandria Real Estate Equities in the 4th quarter valued at $31,260,000. Finally, Presima Securities ULC increased its holdings in shares of Alexandria Real Estate Equities by 4,714.5% in the 4th quarter. Presima Securities ULC now owns 226,281 shares of the real estate investment trust's stock valued at $28,686,000 after acquiring an additional 221,581 shares during the period. 96.54% of the stock is owned by institutional investors.

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.