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

Alexandria Real Estate Equities (NYSE:ARE) had its price target lowered by stock analysts at Royal Bank of Canada from $125.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price points to a potential upside of 16.41% from the stock’s previous close.

Several other equities research analysts have also commented on ARE. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the stock from $135.00 to $112.00 in a report on Friday, November 15th. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. JMP Securities reduced their target price on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, November 15th. Finally, Evercore ISI lowered 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. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average price target of $124.82.

Alexandria Real Estate Equities Stock Down 4.3 %

ARE opened at $97.93 on Tuesday. The company has a fifty day moving average of $110.67 and a two-hundred day moving average of $115.53. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 59.71, a PEG ratio of 3.87 and a beta of 1.14. Alexandria Real Estate Equities has a fifty-two week low of $97.90 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The business had revenue of $791.60 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 EPS. On average, research analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities announced that its board has approved a stock buyback plan on Monday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARE. Catalyst Capital Advisors LLC purchased a new stake in Alexandria Real Estate Equities in the third quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Alexandria Real Estate Equities during the 3rd quarter worth about $30,000. UMB Bank n.a. raised its holdings in 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 valued at $32,000 after buying an additional 154 shares during the period. Rothschild Investment LLC acquired a new position in Alexandria Real Estate Equities in the second quarter valued at about $33,000. Finally, Venturi Wealth Management LLC boosted its stake in Alexandria Real Estate Equities by 144.0% during the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 180 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

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.