Royal Bank of Canada Has Lowered Expectations for Alexandria Real Estate Equities (NYSE:ARE) Stock Price

Alexandria Real Estate Equities (NYSE:ARE) had its target price lowered by research analysts at Royal Bank of Canada from $125.00 to $114.00 in a research report issued to clients and 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 would indicate a potential upside of 16.41% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. JMP Securities lowered 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. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $133.00 to $121.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, Robert W. Baird dropped their price objective on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.82.

Alexandria Real Estate Equities Stock Down 4.3 %

Shares of NYSE ARE opened at $97.93 on Tuesday. The stock has a 50 day moving average price of $110.67 and a 200 day moving average price of $115.53. The firm 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 52-week low of $97.90 and a 52-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 posted its quarterly 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). The firm had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. Alexandria Real Estate Equities’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.26 EPS. Sell-side 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 of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Alexandria Real Estate Equities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARE. Catalyst Capital Advisors LLC acquired a new position in shares of Alexandria Real Estate Equities in the third quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Alexandria Real Estate Equities in the third quarter worth $30,000. UMB Bank n.a. raised its holdings in shares of Alexandria Real Estate Equities by 132.8% during the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Rothschild Investment LLC acquired a new position in Alexandria Real Estate Equities during the second quarter valued at $33,000. Finally, Venturi Wealth Management LLC boosted its holdings in Alexandria Real Estate Equities by 144.0% in the third 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. Hedge funds and other institutional investors 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.