Alexandria Real Estate Equities (NYSE:ARE) Shares Gap Up to $144.74

Alexandria Real Estate Equities, Inc. (NYSE:AREGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $144.74, but opened at $149.64. Alexandria Real Estate Equities shares last traded at $146.56, with a volume of 1,869 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARE. Evercore ISI increased their price target on shares of Alexandria Real Estate Equities from $185.00 to $194.00 in a research report on Monday, September 12th. StockNews.com lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Saturday, August 13th. Credit Suisse Group started coverage on shares of Alexandria Real Estate Equities in a research note on Wednesday, June 22nd. They set a “neutral” rating and a $140.00 target price on the stock. Mizuho upped their target price on shares of Alexandria Real Estate Equities from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, JMP Securities cut their target price on shares of Alexandria Real Estate Equities from $230.00 to $200.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Alexandria Real Estate Equities Price Performance

The company has a market capitalization of $23.18 billion, a PE ratio of 76.80, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.23 and a quick ratio of 0.23. The company’s 50 day simple moving average is $156.49 and its 200 day simple moving average is $166.55.

Alexandria Real Estate Equities (NYSE:AREGet Rating) last announced its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $1.67 EPS for the quarter, beating the consensus estimate of $0.66 by $1.01. The company had revenue of $643.80 million for the quarter, compared to analyst estimates of $633.13 million. Alexandria Real Estate Equities had a net margin of 12.54% and a return on equity of 1.93%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. As a group, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 8.41 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $1.18 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $4.72 annualized dividend and a yield of 3.32%. Alexandria Real Estate Equities’s dividend payout ratio is currently 255.14%.

Insider Activity

In other news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was acquired at an average cost of $1.00 per share, with a total value of $3,500,000.00. Following the completion of the acquisition, the insider now owns 4,555,077 shares of the company’s stock, valued at $4,555,077. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was acquired at an average cost of $1.00 per share, with a total value of $3,500,000.00. Following the completion of the acquisition, the insider now owns 4,555,077 shares of the company’s stock, valued at $4,555,077. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jackie B. Clem sold 794 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $156.60, for a total value of $124,340.40. Following the completion of the sale, the general counsel now directly owns 22,824 shares of the company’s stock, valued at $3,574,238.40. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Several hedge funds have recently modified their holdings of ARE. Ronald Blue Trust Inc. acquired a new stake in shares of Alexandria Real Estate Equities during the second quarter worth $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Alexandria Real Estate Equities during the first quarter worth $26,000. Bank of New Hampshire acquired a new stake in shares of Alexandria Real Estate Equities during the first quarter worth $28,000. Glassman Wealth Services lifted its holdings in shares of Alexandria Real Estate Equities by 137.2% during the second quarter. Glassman Wealth Services now owns 204 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 118 shares during the period. Finally, Tcwp LLC acquired a new stake in shares of Alexandria Real Estate Equities during the first quarter worth $31,000. 91.81% of the stock is owned by institutional investors and hedge funds.

About Alexandria Real Estate Equities

(Get Rating)

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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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