Alexandria Real Estate Equities’ (ARE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Alexandria Real Estate Equities (NYSE:ARE) in a report issued on Wednesday,Benzinga reports. They currently have a $130.00 price target on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI lowered their price target 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 report on Wednesday, October 23rd. Robert W. Baird lowered their target price on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada dropped their target price on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $112.00 in a research report on Friday, November 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective (down from $120.00) on shares of Alexandria Real Estate Equities in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities currently has an average rating of “Hold” and an average target price of $121.30.

Alexandria Real Estate Equities Stock Performance

Alexandria Real Estate Equities stock opened at $97.70 on Wednesday. Alexandria Real Estate Equities has a fifty-two week low of $94.35 and a fifty-two week high of $130.14. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 54.28, a PEG ratio of 3.64 and a beta of 1.16. The stock’s 50 day simple moving average is $101.55 and its two-hundred day simple moving average is $111.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.20 and a current ratio of 0.21.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. As a group, analysts expect that Alexandria Real Estate Equities will post 9.34 earnings per share for the current fiscal year.

Alexandria Real Estate Equities declared that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 5.40%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. Alexandria Real Estate Equities’s payout ratio is currently 293.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARE. Pathway Financial Advisers LLC raised its stake in Alexandria Real Estate Equities by 11,449.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock worth $169,056,000 after acquiring an additional 1,411,304 shares during the period. National Bank of Canada FI increased its stake in shares of Alexandria Real Estate Equities by 350.0% in the third quarter. National Bank of Canada FI now owns 341,357 shares of the real estate investment trust’s stock worth $40,536,000 after purchasing an additional 265,508 shares in the last quarter. Raymond James & Associates raised its position in shares of Alexandria Real Estate Equities by 501.1% during 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 purchasing an additional 242,466 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Alexandria Real Estate Equities by 114.9% during 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 buying an additional 232,817 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Alexandria Real Estate Equities by 315.9% in the 3rd quarter. KBC Group NV now owns 169,350 shares of the real estate investment trust’s stock worth $20,110,000 after buying an additional 128,634 shares during the period. 96.54% of the stock is currently 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.