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

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

Other equities research analysts have also recently issued reports about the company. GMP Securities reaffirmed an average rating and set a $26.00 price target on shares of Alexandria Real Estate Equities in a report on Thursday, August 1st. Zacks Investment Research raised Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, May 16th. ValuEngine cut Alexandria Real Estate Equities from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Citigroup raised their price target on Alexandria Real Estate Equities from $157.00 to $162.00 and gave the company a buy rating in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $105.67.

ARE stock opened at $148.10 on Tuesday. The business has a fifty day moving average price of $144.35 and a 200 day moving average price of $142.21. Alexandria Real Estate Equities has a fifty-two week low of $109.04 and a fifty-two week high of $153.51. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 4.30 and a beta of 0.74. 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 (NYSE:ARE) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($1.04). Alexandria Real Estate Equities had a net margin of 28.05% and a return on equity of 5.00%. 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 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts expect that Alexandria Real Estate Equities will post 6.98 earnings per share for the current fiscal year.

In other news, EVP John H. Cunningham sold 6,000 shares of Alexandria Real Estate Equities stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $144.00, for a total value of $864,000.00. Following the completion of the sale, the executive vice president now directly owns 42,595 shares of the company’s stock, valued at approximately $6,133,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Banks sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $139.93, for a total value of $279,860.00. Following the completion of the sale, the chief operating officer now directly owns 52,734 shares of the company’s stock, valued at $7,379,068.62. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock valued at $10,957,978 over the last three months. Insiders own 1.43% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Alexandria Real Estate Equities by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 18,278,737 shares of the real estate investment trust’s stock valued at $2,578,947,000 after buying an additional 414,930 shares during the period. Principal Financial Group Inc. increased its stake in shares of Alexandria Real Estate Equities by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 5,093,085 shares of the real estate investment trust’s stock valued at $726,070,000 after buying an additional 356,441 shares during the period. Northern Trust Corp increased its stake in shares of Alexandria Real Estate Equities by 4.4% in the 2nd quarter. Northern Trust Corp now owns 1,943,866 shares of the real estate investment trust’s stock valued at $274,261,000 after buying an additional 81,169 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Alexandria Real Estate Equities by 179.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,711,959 shares of the real estate investment trust’s stock valued at $241,541,000 after buying an additional 1,098,573 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Alexandria Real Estate Equities by 11.0% in the 4th quarter. Geode Capital Management LLC now owns 1,694,216 shares of the real estate investment trust’s stock valued at $194,957,000 after buying an additional 168,461 shares during the period. 97.03% of the stock is owned by 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.

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