Citigroup Lowers Alexandria Real Estate Equities (NYSE:ARE) to Neutral

Citigroup lowered shares of Alexandria Real Estate Equities (NYSE:ARE) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat Ratings reports. They currently have $125.00 target price on the real estate investment trust’s stock, down from their prior target price of $130.00.

Several other research firms have also commented on ARE. Bank of America downgraded Alexandria Real Estate Equities from a buy rating to a neutral rating and lowered their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. JMP Securities reissued a market outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Jefferies Financial Group downgraded Alexandria Real Estate Equities from a buy rating to a hold rating and dropped their target price for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Wedbush downgraded shares of Alexandria Real Estate Equities from an outperform rating to a neutral rating and reduced their price target for the company from $140.00 to $130.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an outperform rating on the stock in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of Hold and a consensus target price of $130.70.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $124.42 on Friday. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 116.28, a PEG ratio of 4.20 and a beta of 1.16. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $118.58 and a 200 day simple moving average of $119.85. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. During the same period in the previous year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARE. EverSource Wealth Advisors LLC boosted its stake in shares of Alexandria Real Estate Equities by 275.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 171 shares during the period. Mather Group LLC. bought a new stake in Alexandria Real Estate Equities in the first quarter worth about $30,000. UMB Bank n.a. boosted its position in shares of Alexandria Real Estate Equities by 132.8% during the second quarter. UMB Bank n.a. now owns 270 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 154 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $33,000. Finally, Riverview Trust Co bought a new stake in shares of Alexandria Real Estate Equities during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.