Alexandria Real Estate Equities (NYSE:ARE) Price Target Raised to $147.00 at JPMorgan Chase & Co.

Alexandria Real Estate Equities (NYSE:ARE) had its target price increased by JPMorgan Chase & Co. from $140.00 to $147.00 in a research report released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

ARE has been the topic of several other reports. Zacks Investment Research raised Alexandria Real Estate Equities from a sell rating to a hold rating in a research report on Thursday, May 16th. Citigroup upped their target price on Alexandria Real Estate Equities from $157.00 to $162.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. GMP Securities reaffirmed an average rating and issued a $26.00 target price on shares of Alexandria Real Estate Equities in a research report on Thursday, August 1st. Finally, ValuEngine lowered Alexandria Real Estate Equities from a buy rating to a hold rating in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $105.67.

Shares of ARE stock opened at $148.10 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.21 and a quick ratio of 0.21. Alexandria Real Estate Equities has a fifty-two week low of $109.04 and a fifty-two week high of $153.51. The stock’s 50-day moving average is $144.35 and its two-hundred day moving average is $142.21. The firm has a market cap of $16.24 billion, a P/E ratio of 21.11, a PEG ratio of 4.30 and a beta of 0.74.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.68 earnings per share 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 firm had revenue of $373.90 million during the quarter, compared to analyst estimates of $366.81 million. During the same period in the previous year, the company earned $1.64 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts expect that Alexandria Real Estate Equities will post 6.98 EPS for the current year.

In other news, EVP John H. Cunningham sold 6,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $144.00, for a total transaction of $864,000.00. Following the transaction, the executive vice president now owns 42,595 shares of the company’s stock, valued at approximately $6,133,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter M. Moglia sold 4,500 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $143.59, for a total value of $646,155.00. Following the transaction, the chief executive officer now directly owns 169,975 shares in the company, valued at approximately $24,406,710.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,500 shares of company stock worth $10,957,978. 1.43% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at approximately $30,000. FinTrust Capital Advisors LLC grew its holdings in Alexandria Real Estate Equities by 275.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 218 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 160 shares during the last quarter. CSat Investment Advisory L.P. grew its holdings in Alexandria Real Estate Equities by 65.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 224 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 89 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Alexandria Real Estate Equities by 883.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 295 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 265 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Alexandria Real Estate Equities by 41.0% in the 1st quarter. Signaturefd LLC now owns 454 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 132 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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