Several other analysts have also recently commented on the stock. Mizuho raised its price target on Alexandria Real Estate Equities shares from $200.00 to $219.00 in a Thursday, January 20 report. TheStreet downgraded Alexandria Real Estate Equities from a b- to a c+ rating in a Friday, March 11 research note. One research analyst has rated the stock with a sell rating, another has assigned a hold rating, and five have assigned the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus buy rating and a consensus target price of $180.80.
Alexandria Real Estate Stocks stock opened at $198.55 on Friday. Alexandria Real Estate Equities has a 12-month low of $167.73 and a 12-month high of $224.95. The company has a quick ratio of 0.19, a current ratio of 0.19 and a leverage ratio of 0.46. The company’s 50-day moving average price is $192.76 and its 200-day moving average price is $201.10. The company has a market capitalization of $32.41 billion, a PE ratio of 52.39, a growth price-earnings ratio of 3.13 and a beta of 0.82.
Alexandria Real Estate Stocks (NYSE: ARE – Get a rating) last reported quarterly earnings data on Monday, Jan. 31. The real estate investment trust reported EPS of $0.47 for the quarter, missing Thomson Reuters consensus estimate of $0.65 per ($0.18). Alexandria Real Estate Equities had a net margin of 26.93% and a return on equity of 3.40%. In the same period a year earlier, the company posted earnings per share of $1.84. As a group, sell-side analysts expect Alexandria Real Estate Equities to post earnings per share of 8.41 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 15. Shareholders of record on Thursday, March 31 will receive a dividend of $1.15. The ex-dividend date is Wednesday, March 30. This represents an annualized dividend of $4.60 and a dividend yield of 2.32%. Alexandria Real Estate Equities’ dividend payout ratio (DPR) is currently 121.37%.
Separately, Executive Vice President Marc E. Binda sold 3,234 shares of the company in a trade on Friday, February 25. The shares were sold at an average price of $191.09, for a total transaction of $617,985.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director James P. Cain sold 425 shares of the company in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $193.26, for a total transaction of $82,135.50. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 36,462 shares of the company valued at $6,854,818. 1.12% of the shares are held by insiders.
Several institutional investors and hedge funds have recently changed their positions in the company. BlackRock Inc. increased its stake in shares of Alexandria Real Estate Equities by 6.0% in the fourth quarter. BlackRock Inc. now owns 14,913,187 shares of the real estate investment trust worth $3,325,044,000 after purchasing an additional 842,831 shares in the last quarter. Norges Bank acquired a new equity stake in Alexandria Real Estate Equities during the fourth quarter worth approximately $3,007,227,000. State Street Corp increased its holdings of Alexandria Real Estate Equities shares by 9.9% during the fourth quarter. State Street Corp now owns 9,128,518 shares of the real estate investment trust valued at $2,045,623,000 after acquiring an additional 822,034 shares last quarter. Capital World Investors increased its stake in Alexandria Real Estate Equities by 0.3% in the fourth quarter. Capital World Investors now owns 3,624,923 shares of the real estate investment trust worth $808,213,000 after buying an additional 9,123 shares last quarter. Finally, Invesco Ltd. increased its stake in Alexandria Real Estate Equities by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,273,413 shares of the real estate investment trust worth $729,841,000 after purchasing an additional 186,573 shares in the last quarter. 94.93% of the shares are currently held by institutional investors.
About Alexandria Real Estate Stocks (Get a rating)
Alexandria Real Estate Equities, Inc. is an urban office real estate investment trust. The company is engaged in the ownership, operation, development and redevelopment of life science and technology properties. It also provides space for lease to life science and technology industries, which are primarily located in AAA urban innovation cluster locations.
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