Alexandria Real Estate Equities (NYSE:ARE) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Alexandria Real Estate Equities (NYSE:ARE – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The brokerage issued a neutral rating on the real estate investment trust’s stock.

ARE has been the topic of several other research reports. TheStreet lowered shares of Alexandria Real Estate Equities from a b- rating to a c+ rating in a research report on Friday, March 11th. StockNews.com lowered shares of Alexandria Real Estate Equities from a hold rating to a sell rating in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $180.80.

Shares of NYSE:ARE opened at $133.39 on Wednesday. Alexandria Real Estate Equities has a 12 month low of $130.00 and a 12 month high of $224.95. The stock has a market cap of $21.77 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 2.03 and a beta of 0.85. The stock’s 50 day moving average price is $166.75 and its 200 day moving average price is $188.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.40 and a quick ratio of 0.40.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last announced its earnings results on Monday, April 25th. The real estate investment trust reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.71). Alexandria Real Estate Equities had a return on equity of 2.28% and a net margin of 18.30%. The firm had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. During the same period in the previous year, the firm earned $1.91 EPS. Alexandria Real Estate Equities’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, sell-side analysts expect that Alexandria Real Estate Equities will post 8.4 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 3.54%. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, June 29th. Alexandria Real Estate Equities’s payout ratio is presently 164.88%.

In other Alexandria Real Estate Equities news, General Counsel Jackie B. Clem sold 1,865 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $189.55, for a total transaction of $353,510.75. Following the transaction, the general counsel now directly owns 24,039 shares in the company, valued at approximately $4,556,592.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Richardson sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $171.47, for a total transaction of $857,350.00. Following the transaction, the chief executive officer now owns 175,602 shares in the company, valued at $30,110,474.94. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Several institutional investors have recently bought and sold shares of ARE. Dark Forest Capital Management LP purchased a new position in shares of Alexandria Real Estate Equities during the 3rd quarter valued at $57,000. MML Investors Services LLC grew its holdings in shares of Alexandria Real Estate Equities by 8.9% during the 3rd quarter. MML Investors Services LLC now owns 2,681 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 219 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Alexandria Real Estate Equities by 14.7% in the 3rd quarter. LPL Financial LLC now owns 15,338 shares of the real estate investment trust’s stock valued at $2,931,000 after purchasing an additional 1,962 shares during the last quarter. Toroso Investments LLC lifted its stake in shares of Alexandria Real Estate Equities by 27.9% in the 3rd quarter. Toroso Investments LLC now owns 2,001 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 437 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Alexandria Real Estate Equities by 176.6% in the 3rd quarter. Squarepoint Ops LLC now owns 5,497 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 3,510 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.

Alexandria Real Estate Equities Company Profile (Get Rating)

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500^® urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet ("SF").

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