Royal Bank Of Canada Cuts Alexandria Real Estate Equities (NYSE:ARE) Price Target to $98.00

Key Points

• Royal Bank of Canada has reduced the price target for Alexandria Real Estate Equities from $100.00 to $98.00 while maintaining a "sector perform" rating, indicating a potential upside of 23.88% from the previous close.
• Multiple analysts have revised their price targets for Alexandria, with several lowering their estimates significantly, resulting in a consensus price target of $99.38.
• Alexandria Real Estate Equities reported $2.33 earnings per share for the last quarter, exceeding analyst expectations, although their revenue was slightly below forecasts.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) had its price target reduced by research analysts at Royal Bank Of Canada from $100.00 to $98.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target would suggest a potential upside of 23.88% from the stock's previous close.

ARE has been the topic of several other reports. Evercore ISI lowered their target price on shares of Alexandria Real Estate Equities from $103.00 to $91.00 in a research report on Wednesday, April 30th. Mizuho lowered their target price on shares of Alexandria Real Estate Equities from $121.00 to $91.00 in a research report on Thursday, June 12th. Baird R W lowered their target price on shares of Alexandria Real Estate Equities from $129.00 to $102.00 in a research report on Thursday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Finally, JMP Securities restated a "market outperform" rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of "Hold" and a consensus price target of $99.38.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE traded down $0.01 on Tuesday, reaching $79.11. The company's stock had a trading volume of 252,886 shares, compared to its average volume of 1,597,253. The stock's 50-day moving average is $74.19 and its two-hundred day moving average is $84.19. Alexandria Real Estate Equities has a 52-week low of $67.37 and a 52-week high of $125.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $13.68 billion, a P/E ratio of -608.12, a PEG ratio of 6.93 and a beta of 1.25.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.04. The firm had revenue of $737.28 million during the quarter, compared to analysts' expectations of $748.02 million. Alexandria Real Estate Equities had a negative net margin of 0.33% and a negative return on equity of 0.05%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. As a group, sell-side analysts forecast that Alexandria Real Estate Equities will post 9.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. grew its position in Alexandria Real Estate Equities by 6.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,119 shares of the real estate investment trust's stock valued at $207,000 after purchasing an additional 120 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Alexandria Real Estate Equities by 5.8% in the fourth quarter. Wedbush Securities Inc. now owns 2,300 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 126 shares during the last quarter. Private Trust Co. NA lifted its stake in Alexandria Real Estate Equities by 19.2% in the first quarter. Private Trust Co. NA now owns 925 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 149 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Alexandria Real Estate Equities by 16.4% in the first quarter. Farther Finance Advisors LLC now owns 1,084 shares of the real estate investment trust's stock valued at $99,000 after acquiring an additional 153 shares during the last quarter. Finally, Presima Securities ULC lifted its stake in Alexandria Real Estate Equities by 1.4% in the first quarter. Presima Securities ULC now owns 11,895 shares of the real estate investment trust's stock valued at $1,100,000 after acquiring an additional 170 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.

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.

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