Alexandria Real Estate Equities (NYSE: ARE) Gains StockNews.com Coverage 2023
In a report released on Thursday, analysts at StockNews.com initiated coverage on shares of Alexandria Real Estate Equities (NYSE: ARE – Get Rating). The brokerage assigned the stock of the real estate investment trust a “hold” recommendation.
Several more equity research analysts have recently commented on ARE. In a research report dated Tuesday, January 31st, JMP Securities reiterated a “buy” rating and set a $180.00 price objective on shares of Alexandria Real Estate Equities. In a research report dated Friday, December 2nd, Evercore ISI cut their price target on shares of Alexandria Real Estate Equities to $168.00. In a report released on Monday, February 13th, Mizuho boosted their price objective on shares of Alexandria Real Estate Equities from $178.00 to $180.00 and gave the stock a “buy” rating. In a report published on Thursday, February 2nd, JPMorgan Chase & Co. boosted their target price on shares of Alexandria Real Estate Equities from $176.00 to $177.00 and gave the company a “overweight” rating. In a report published on Thursday, February 2nd, Robert W. Baird boosted their price target on Alexandria Real Estate Equities from $162.00 to $174.00 and gave the stock a “outperform” rating. Two analysts have assigned a “hold” recommendation to the stock, while six have issued a “buy” rating. The business has an average rating of “Moderate Buy” and a consensus price target of $175.63, according to MarketBeat.
Alexandria Real Estate Equities Price Performance
Thursday’s opening price of the NYSE ARE was $126.75. The company’s debt-to-equity ratio is 0.45, its current ratio is 0.35, and its quick ratio is 0.35. The firm’s 50-day and 200-day moving average prices are $153.65 and $148.61, respectively. The 52-week low for Alexandria Real Estate Equities is $123.26 and the 52-week high is $206.85. The company’s market capitalization is $21.97 billion, its P/E ratio is 40.56, its P/E/G ratio is 1.84, and its beta is 0.95.
On January 31st, Alexandria Real Estate Equities (NYSE:ARE – Get Rating) issued its most recent quarterly results report. Real estate investment trust announced quarterly profits of $0.31 per share, missing analysts’ consensus expectation of $2.13 per share by ($1.82). For the quarter, the company generated $670.28 million in sales, compared to analysts’ expectations of $674.21 million. The net margin for Alexandria Real Estate Equities was 20.15%, while its return on equity was 2.80%. The company’s quarterly sales increased by 16.2% year-over-year. During the same time last year, the company generated $1.97 in earnings per share. Sell-side analysts anticipate that Alexandria Real Estate Equities will report earnings per share of $8.95 for the current fiscal year.
Insider Purchases and Sales
In related news, Chairman Joel S. Marcus sold 9,000 shares of Alexandria Real Estate Equities stock on Tuesday, February 7th. At an average price of $168.00, the shares were sold for a total of $1,512,000.00. With the conclusion of the transaction, the chairman now owns 388,729 shares of the firm worth $65,306,472. The sale was revealed in a document filed with the SEC, which may be accessed via this link. In related news, on Tuesday, February 7th, Chairman Joel S. Marcus sold 9,000 shares of the company’s stock. At an average price of $168.00, the shares were sold for a total of $1,512,000.00. Following the transaction, the chairman now owns 388,729 shares of the business valued at $65,306,472. The sale was revealed in a filing with the Securities and Exchange Commission, which is accessible on the SEC’s website. In a separate transaction on Monday, February 6th, EVP Marc E. Binda sold 3,298 shares of the company’s stock. At an average price of $167.21 per share, the stock was sold for a total of $551,458.58. The executive vice president now owns 67,005 shares of firm stock worth $11,203,906.05. Below is the disclosure for this transaction. Insiders sold 16,101 shares of company stock worth $2,700,271 over the last recent quarter. Insiders hold 0.96 percent of the company’s shares.
Institutional Flows in and Flows out
Recently, hedge funds and other institutional investors have purchased and sold company shares. During the first quarter, Raymond James Financial Services Advisors Inc. increased its holdings in Alexandria Real Estate Equities by 8.6%. After acquiring an additional 348 shares in the preceding quarter, Raymond James Financial Services Advisors Inc. now has 4,377 shares of the REIT’s stock valued at $881,000. During the first quarter, American Century Companies Inc. increased its holdings in Alexandria Real Estate Equities shares by 242.4%. American Century Companies Inc. now owns 4,499 shares of the REIT’s stock, worth $906,000, after acquiring an additional 3,185 shares in the last recent quarter. During the first quarter, Cambridge Investment Research Advisors Inc. increased its stake in shares of Alexandria Real Estate Equities by 14.4%. Cambridge Investment Research Advisors Inc. now owns 4,753 shares of the REIT’s stock worth $957k after purchasing an additional 598 shares in the most recent quarter. During the first quarter, HighTower Advisors LLC increased its holdings in shares of Alexandria Real Estate Equities by 11.7%. HighTower Advisors LLC now owns 5,903 shares of the REIT’s stock worth $1,187,000 after purchasing an additional 620 shares in the last recent quarter. In the first quarter, Cetera Advisor Networks LLC increased its holdings in Alexandria Real Estate Equities by 7.3%. After acquiring an additional 74 shares during the preceding quarter, Cetera Advisor Networks LLC now holds 1,086 shares of the REIT’s stock valued at $219,000. The institutional ownership percentage of the stock is 89.81%.