Alexandria Real Estate Equities (NYSE:ARE) Price Target Raised to $166.00 at DA Davidson

Alexandria Real Estate Equities (NYSE:ARE) had its target price lifted by DA Davidson to $166.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. DA Davidson’s price objective points to a potential upside of 12.09% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Citigroup raised their target price on Alexandria Real Estate Equities from $157.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. GMP Securities reiterated an “average” rating and issued a $26.00 price target on shares of Alexandria Real Estate Equities in a report on Thursday, August 1st. Zacks Investment Research upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. increased their price target on Alexandria Real Estate Equities from $140.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, ValuEngine lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.70.

NYSE ARE traded up $2.94 during trading hours on Friday, hitting $148.10. 682,600 shares of the company’s stock were exchanged, compared to its average volume of 682,624. The stock has a 50-day simple moving average of $144.35 and a 200 day simple moving average of $142.21. Alexandria Real Estate Equities has a 1-year low of $109.04 and a 1-year high of $153.51. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.30 and a beta of 0.74. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.76.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.04). Alexandria Real Estate Equities had a return on equity of 5.00% and a net margin of 28.05%. The business had revenue of $373.90 million for the quarter, compared to analyst estimates of $366.81 million. During the same period in the prior year, the business earned $1.64 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that Alexandria Real Estate Equities will post 6.98 earnings per share for the current fiscal year.

In other Alexandria Real Estate Equities news, Director James P. Cain sold 450 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $139.82, for a total value of $62,919.00. Following the transaction, the director now owns 3,506 shares in the company, valued at $490,208.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Banks sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $139.93, for a total value of $279,860.00. Following the completion of the transaction, the chief operating officer now owns 52,734 shares in the company, valued at approximately $7,379,068.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,500 shares of company stock worth $10,957,978. Corporate insiders own 1.43% of the company’s stock.

Several hedge funds have recently bought and sold shares of ARE. Magnetar Financial LLC bought a new stake in Alexandria Real Estate Equities during the second quarter worth $3,809,000. Wimmer Associates 1 LLC lifted its holdings in Alexandria Real Estate Equities by 9.2% during the second quarter. Wimmer Associates 1 LLC now owns 1,845 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 155 shares during the period. United Services Automobile Association lifted its holdings in Alexandria Real Estate Equities by 0.9% during the second quarter. United Services Automobile Association now owns 36,688 shares of the real estate investment trust’s stock worth $5,176,000 after acquiring an additional 337 shares during the period. California Public Employees Retirement System lifted its holdings in Alexandria Real Estate Equities by 28.7% during the second quarter. California Public Employees Retirement System now owns 622,201 shares of the real estate investment trust’s stock worth $87,786,000 after acquiring an additional 138,897 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in Alexandria Real Estate Equities during the second quarter worth $5,158,000. Institutional investors own 97.03% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.

See Also: How to read a candlestick chart

The Fly

Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

Receive News & Ratings for Alexandria Real Estate Equities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexandria Real Estate Equities and related companies with MarketBeat.com's FREE daily email newsletter.