Evercore ISI Lowers Alexandria Real Estate Equities (NYSE:ARE) Price Target to $132.00

Alexandria Real Estate Equities (NYSE:ARE) had its price target decreased by stock analysts at Evercore ISI from $137.00 to $132.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 13.57% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Mizuho upped their target price on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They issued a “buy” rating and a $140.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $136.75.

Alexandria Real Estate Equities Stock Performance

Shares of ARE stock opened at $116.23 on Thursday. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.26. The firm has a market capitalization of $20.33 billion, a P/E ratio of 108.63, a P/E/G ratio of 2.74 and a beta of 1.05. The company’s fifty day moving average price is $122.98 and its two-hundred day moving average price is $117.10.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The firm had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. Alexandria Real Estate Equities had a return on equity of 0.87% and a net margin of 6.65%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 EPS. On average, research analysts anticipate that Alexandria Real Estate Equities will post 9.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the sale, the chairman now owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the sale, the chairman now owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the completion of the sale, the chief executive officer now owns 249,683 shares in the company, valued at approximately $30,686,040.70. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinnacle Associates Ltd. acquired a new position in shares of Alexandria Real Estate Equities during the first quarter valued at approximately $284,000. Prestige Wealth Management Group LLC increased its stake in shares of Alexandria Real Estate Equities by 8,671.4% during the first quarter. Prestige Wealth Management Group LLC now owns 1,842 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 1,821 shares during the period. Carmel Capital Partners LLC increased its stake in shares of Alexandria Real Estate Equities by 8.5% during the first quarter. Carmel Capital Partners LLC now owns 3,082 shares of the real estate investment trust’s stock valued at $397,000 after acquiring an additional 241 shares during the period. Advocate Group LLC increased its stake in shares of Alexandria Real Estate Equities by 423.3% during the first quarter. Advocate Group LLC now owns 18,420 shares of the real estate investment trust’s stock valued at $2,375,000 after acquiring an additional 14,900 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Alexandria Real Estate Equities by 1.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,768 shares of the real estate investment trust’s stock valued at $4,611,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 96.54% of the company’s stock.

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.