Alexandria Real Estate Equities (NYSE:ARE) Reaches New 1-Year Low After Analyst Downgrade

Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE - Get Free Report) hit a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $117.00 to $95.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Alexandria Real Estate Equities traded as low as $69.93 and last traded at $70.21, with a volume of 309440 shares. The stock had previously closed at $72.18.

ARE has been the topic of a number of other research reports. Wedbush restated a "neutral" rating and issued a $104.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. JMP Securities reaffirmed a "market outperform" rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. StockNews.com raised shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group assumed coverage on Alexandria Real Estate Equities in a research report on Monday, March 17th. They set a "hold" rating and a $100.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $116.00.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Alexandria Real Estate Equities by 218.1% in the 4th quarter. Bank of America Corp DE now owns 1,164,554 shares of the real estate investment trust's stock worth $113,602,000 after purchasing an additional 798,438 shares during the period. Magnetar Financial LLC acquired a new position in Alexandria Real Estate Equities in the fourth quarter valued at $968,000. Hahn Capital Management LLC boosted its position in Alexandria Real Estate Equities by 50.4% during the fourth quarter. Hahn Capital Management LLC now owns 68,370 shares of the real estate investment trust's stock valued at $6,669,000 after acquiring an additional 22,926 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Alexandria Real Estate Equities by 5.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 903,541 shares of the real estate investment trust's stock valued at $88,140,000 after purchasing an additional 42,825 shares during the period. Finally, Allstate Corp bought a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at about $2,008,000. Institutional investors own 96.54% of the company's stock.

Alexandria Real Estate Equities Stock Down 2.7%

The firm has a 50 day moving average of $81.48 and a 200 day moving average of $94.55. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 3.93 and a beta of 1.27. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.02. The business had revenue of $758.16 million during the quarter, compared to analysts' expectations of $755.64 million. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $2.35 earnings per share. As a group, sell-side analysts predict that Alexandria Real Estate Equities, Inc. will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.32 per share. The ex-dividend date was Monday, March 31st. This represents a $5.28 dividend on an annualized basis and a yield of 7.52%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is currently 694.74%.

Alexandria Real Estate Equities Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.