Alexandria Real Estate Equities, Inc. (ARE) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) from a hold rating to a buy rating in a research report released on Wednesday, August 9th. They currently have $135.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Alexandria’s second-quarter 2017 adjusted funds from operations (FFO) came in line with the Zacks Consensus Estimate and was up 10.3% year over year. Results indicate robust growth in rental rate and strong leasing metrics. The company enjoys high occupancy, stemmed by high demand for its Class A properties in premium locations. Also, robust cash flow and solid balance sheet are its strengths. Further, in July, the company announced the creation of the Alexandria Center for AgTech – RTP. It is the initial phase of a premier multi-tenant mega campus in the Research Triangle Park, NC. Also, shares of Alexandria outperformed the industry it belongs to, year to date. However, earnings-dilutive impact of disposition, rise in rate of interest and foreign currency fluctuations remain its concerns.”

A number of other equities research analysts also recently weighed in on the company. BidaskClub upgraded Alexandria Real Estate Equities from a hold rating to a buy rating in a report on Thursday, June 22nd. TheStreet raised Alexandria Real Estate Equities from a c rating to a b- rating in a research note on Monday, May 1st. Finally, Barclays PLC raised their price objective on Alexandria Real Estate Equities from $126.00 to $129.00 and gave the company an overweight rating in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Alexandria Real Estate Equities presently has an average rating of Buy and an average target price of $124.50.

Shares of Alexandria Real Estate Equities (NYSE:ARE) traded down 1.36% during trading on Wednesday, hitting $120.01. The company had a trading volume of 565,851 shares. The stock has a 50-day moving average of $120.39 and a 200 day moving average of $116.47. Alexandria Real Estate Equities has a 12-month low of $101.51 and a 12-month high of $123.89. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 270.90 and a beta of 0.86.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.50. The business had revenue of $273.10 million during the quarter, compared to the consensus estimate of $277.40 million. Alexandria Real Estate Equities had a return on equity of 3.11% and a net margin of 9.45%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. On average, analysts predict that Alexandria Real Estate Equities will post $1.46 EPS for the current fiscal year.

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In related news, CEO Joel S. Marcus sold 13,893 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $121.22, for a total transaction of $1,684,109.46. Following the transaction, the chief executive officer now owns 705,829 shares of the company’s stock, valued at $85,560,591.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter M. Moglia sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $119.00, for a total value of $238,000.00. Following the transaction, the insider now directly owns 87,867 shares in the company, valued at approximately $10,456,173. The disclosure for this sale can be found here. Insiders sold 48,893 shares of company stock valued at $5,888,629 in the last three months. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC boosted its position in shares of Alexandria Real Estate Equities by 395.0% in the first quarter. Perigon Wealth Management LLC now owns 990 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 790 shares during the last quarter. First Personal Financial Services boosted its position in shares of Alexandria Real Estate Equities by 28.6% in the first quarter. First Personal Financial Services now owns 1,031 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 229 shares during the last quarter. Muzinich & Co. Inc. boosted its position in shares of Alexandria Real Estate Equities by 30.4% in the second quarter. Muzinich & Co. Inc. now owns 943 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 220 shares during the last quarter. Capital Analysts LLC bought a new position in shares of Alexandria Real Estate Equities during the second quarter valued at about $125,000. Finally, Invictus RG bought a new position in shares of Alexandria Real Estate Equities during the first quarter valued at about $133,000.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

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