Alexandria Real Estate Equities Inc (NYSE:ARE)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $132.99 and last traded at $132.72, with a volume of 976744 shares changing hands. The stock had previously closed at $129.01.
Several research firms recently commented on ARE. ValuEngine upgraded Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Alexandria Real Estate Equities from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a report on Tuesday, January 29th. Barclays lowered their target price on shares of Alexandria Real Estate Equities from $126.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 3rd. Citigroup raised shares of Alexandria Real Estate Equities from a “neutral” rating to a “buy” rating and boosted their target price for the company from $133.00 to $144.00 in a report on Monday, December 3rd. Finally, Royal Bank of Canada raised shares of Alexandria Real Estate Equities from an “outperform” rating to a “top pick” rating in a report on Friday, December 14th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alexandria Real Estate Equities has a consensus rating of “Buy” and a consensus target price of $108.88.
The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.27 and a current ratio of 0.27.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, February 4th. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $1.69 by ($1.99). The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $348.01 million. Alexandria Real Estate Equities had a return on equity of 5.45% and a net margin of 28.57%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 EPS. As a group, equities analysts predict that Alexandria Real Estate Equities Inc will post 6.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were given a $0.97 dividend. The ex-dividend date was Friday, December 28th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.93. This represents a $3.88 annualized dividend and a yield of 2.92%. Alexandria Real Estate Equities’s payout ratio is 58.79%.
In related news, insider Joel S. Marcus sold 10,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $124.63, for a total value of $1,246,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Richardson sold 7,500 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $125.09, for a total transaction of $938,175.00. The disclosure for this sale can be found here. Insiders sold 27,500 shares of company stock valued at $3,447,075 over the last quarter. 1.41% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. We Are One Seven LLC purchased a new position in Alexandria Real Estate Equities in the fourth quarter worth $59,000. SRS Capital Advisors Inc. boosted its position in Alexandria Real Estate Equities by 53.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 683 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 239 shares during the period. Loeb Partners Corp purchased a new stake in Alexandria Real Estate Equities during the fourth quarter valued at about $115,000. ETF Managers Group LLC boosted its position in Alexandria Real Estate Equities by 18.6% during the fourth quarter. ETF Managers Group LLC now owns 1,069 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 168 shares during the period. Finally, Exane Derivatives boosted its position in Alexandria Real Estate Equities by 2,442.2% during the fourth quarter. Exane Derivatives now owns 1,627 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,563 shares during the period.
About Alexandria Real Estate Equities (NYSE:ARE)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 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 $19.1 billion and an asset base in North America of 32.2 million square feet (SF) as of September 30, 2018.
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