Alexandria Real Estate Equities (NYSE:ARE) Receives New Coverage from Analysts at Credit Suisse Group

Research analysts at 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 firm set a “neutral” rating and a $140.00 price target on the real estate investment trust’s stock. Credit Suisse Group’s price objective suggests a potential upside of 1.49% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.17.

Shares of NYSE ARE opened at $137.95 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.51. Alexandria Real Estate Equities has a 52 week low of $130.00 and a 52 week high of $224.95. The firm has a 50-day moving average price of $165.59 and a 200 day moving average price of $188.24. The stock has a market capitalization of $22.52 billion, a price-to-earnings ratio of 49.44, a price-to-earnings-growth ratio of 2.03 and a beta of 0.85.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last announced its quarterly earnings data 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 net margin of 18.30% and a return on equity of 2.28%. The company had revenue of $615.10 million during the quarter, compared to analyst estimates of $595.35 million. During the same quarter last year, the business earned $1.91 EPS. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. Equities research analysts expect that Alexandria Real Estate Equities will post 8.4 EPS for the current fiscal year.

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

A number of institutional investors have recently added to or reduced their stakes in ARE. Norges Bank purchased a new stake in Alexandria Real Estate Equities in the fourth quarter valued at approximately $3,007,227,000. JPMorgan Chase & Co. grew its holdings in Alexandria Real Estate Equities by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 4,417,362 shares of the real estate investment trust’s stock valued at $888,995,000 after purchasing an additional 1,383,240 shares during the period. State Street Corp grew its holdings in Alexandria Real Estate Equities by 13.6% in the first quarter. State Street Corp now owns 10,367,269 shares of the real estate investment trust’s stock valued at $2,097,960,000 after purchasing an additional 1,238,751 shares during the period. Vanguard Group Inc. grew its holdings in Alexandria Real Estate Equities by 4.7% in the first quarter. Vanguard Group Inc. now owns 24,897,323 shares of the real estate investment trust’s stock valued at $5,010,585,000 after purchasing an additional 1,114,118 shares during the period. Finally, Parnassus Investments LLC grew its holdings in Alexandria Real Estate Equities by 41.1% in the first quarter. Parnassus Investments LLC now owns 3,459,409 shares of the real estate investment trust’s stock valued at $696,206,000 after purchasing an additional 1,008,054 shares during the period. Hedge funds and other institutional investors 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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