Alexandria Real Estate Equities (NYSE:ARE) Stock Gets Price Target Reduction from BNP Paribas Exane

Alexandria Real Estate Equities (NYSE:ARE) had its price target decreased by BNP Paribas Exane from $40.00 to $37.00 in a report published on Wednesday morning,Benzinga reports. BNP Paribas Exane currently has an underperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on ARE. Robert W. Baird lifted their price target on shares of Alexandria Real Estate Equities from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Cantor Fitzgerald cut their price target on shares of Alexandria Real Estate Equities from $52.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Alexandria Real Estate Equities from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Royal Bank Of Canada set a $41.00 price objective on shares of Alexandria Real Estate Equities in a research note on Monday, October 12th. Finally, Raymond James Financial set a $41.00 price objective on Alexandria Real Estate Equities in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of “Reduce” and a consensus target price of $49.36.

Alexandria Real Estate Equities Price Performance

Shares of ARE opened at $40.12 on Wednesday. The company has a quick ratio of 0.19, a current ratio of 0.14 and a debt-to-equity ratio of 0.65. Alexandria Real Estate Equities has a twelve month low of $38.34 and a twelve month high of $59.76. The stock has a market capitalization of $6.99 billion, a P/E ratio of 5.67 and a beta of 1.16. The company has a 50 day moving average of $48.10 and a 200-day moving average of $49.70.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative return on equity of 7.52% and a negative net margin of 51.81%. The business had revenue of $671.18 million during the quarter, compared to the consensus estimate of $646.26 million. During the same period in the prior year, the firm earned $2.22 EPS. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Alexandria Real Estate Equities will post 6.39 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.72 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 7.2%. Alexandria Real Estate Equities’s dividend payout ratio is currently -34.20%.

Insider Activity

In related news, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $50.51, for a total transaction of $849,073.10. Following the transaction, the executive vice president directly owned 39,152 shares in the company, valued at approximately $1,977,567.52. The trade was a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Joel Marcus bought 5,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average price of $49.68 per share, for a total transaction of $248,400.00. Following the completion of the acquisition, the chairman owned 597,724 shares of the company’s stock, valued at $29,694,928.32. The trade was a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.35% of the stock is currently owned by insiders.

Institutional Trading of Alexandria Real Estate Equities

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Alexandria Real Estate Equities during the 2nd quarter worth about $1,146,423,000. Bank of New York Mellon Corp acquired a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at about $79,253,000. Legal & General Group Plc acquired a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at about $76,647,000. Hsbc Holdings PLC acquired a new stake in Alexandria Real Estate Equities in the 2nd quarter valued at about $64,485,000. Finally, Bank of America Corp DE bought a new position in Alexandria Real Estate Equities during the second quarter worth about $61,516,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.