Citigroup Has Lowered Expectations for Alexandria Real Estate Equities (NYSE:ARE) Stock Price

Alexandria Real Estate Equities (NYSE:ARE) had its target price cut by research analysts at Citigroup from $50.00 to $42.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price target indicates a potential upside of 4.69% from the stock’s current price.

ARE has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price objective on shares of Alexandria Real Estate Equities from $54.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 18th. Wall Street Zen lowered shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alexandria Real Estate Equities in a research report on Thursday, October 15th. Raymond James Financial set a $41.00 target price on Alexandria Real Estate Equities in a research report on Monday, October 12th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Alexandria Real Estate Equities in a research note on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $49.36.

Alexandria Real Estate Equities Stock Performance

ARE stock traded down $0.48 during trading on Friday, hitting $40.12. The company had a trading volume of 2,297,699 shares, compared to its average volume of 2,253,863. The company has a quick ratio of 0.19, a current ratio of 0.14 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $48.36 and a 200-day moving average price of $49.77. Alexandria Real Estate Equities has a 1-year low of $38.34 and a 1-year high of $59.76. The firm has a market cap of $6.99 billion, a PE ratio of -4.76 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71). Alexandria Real Estate Equities had a negative net margin of 51.81% and a negative return on equity of 7.52%. The firm had revenue of $671.18 million during the quarter, compared to analysts’ expectations of $646.26 million. During the same quarter last year, the business earned $2.22 earnings per share. The business’s quarterly revenue was down 10.7% on a year-over-year basis. On average, analysts expect that Alexandria Real Estate Equities will post 6.39 earnings per share for the current year.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.51, for a total value of $849,073.10. Following the completion of the transaction, the executive vice president owned 39,152 shares in the company, valued at approximately $1,977,567.52. This represents a 30.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andres Gavinet sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $50.93, for a total value of $509,300.00. Following the sale, the chief accounting officer directly owned 102,516 shares in the company, valued at approximately $5,221,139.88. This trade represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its stake in shares of Alexandria Real Estate Equities by 58.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 68,500 shares of the real estate investment trust’s stock worth $3,620,000 after buying an additional 25,300 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of Alexandria Real Estate Equities in the second quarter valued at $1,155,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Alexandria Real Estate Equities during the second quarter valued at $2,047,000. Hsbc Holdings PLC boosted its holdings in shares of Alexandria Real Estate Equities by 15.2% in the second quarter. Hsbc Holdings PLC now owns 1,208,572 shares of the real estate investment trust’s stock worth $64,485,000 after buying an additional 159,552 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Alexandria Real Estate Equities by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,297,222 shares of the real estate investment trust’s stock worth $106,638,000 after purchasing an additional 52,733 shares during the period. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Company Profile

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.