Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet ("SF"). The asset base in North America includes 31.9 million RSF of operating properties and 3.3 million RSF of Class A properties undergoing construction, 7.1 million RSF of near-term and intermediate-term development and redevelopment projects, and 7.4 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology, and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. Alexandria also provides strategic capital to transformative life science, technology, and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Alexandria Real Estate Equities from a "hold" rating to a "sell" rating in a research report on Saturday. Credit Suisse Group assumed coverage on shares of Alexandria Real Estate Equities in a research report on Wednesday, June 22nd. They issued a "neutral" rating and a $140.00 price objective for the company. JMP Securities lowered their price objective on shares of Alexandria Real Estate Equities from $230.00 to $200.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 27th. Finally, Mizuho lowered their price objective on shares of Alexandria Real Estate Equities from $219.00 to $172.00 and set a "buy" rating for the company in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $193.40.
Alexandria Real Estate Equities Trading Up 0.5 %
Shares of NYSE:ARE traded up $0.87 during mid-day trading on Tuesday, hitting $170.91. The company's stock had a trading volume of 8,196 shares, compared to its average volume of 1,034,783. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of 92.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.23 and a quick ratio of 0.23. Alexandria Real Estate Equities has a one year low of $130.00 and a one year high of $224.95. The company's fifty day simple moving average is $149.49 and its 200-day simple moving average is $172.90.
Alexandria Real Estate Equities (NYSE:ARE - Get Rating) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $1.01. Alexandria Real Estate Equities had a net margin of 12.54% and a return on equity of 1.93%. The business had revenue of $643.80 million for the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the firm earned $1.93 EPS. Alexandria Real Estate Equities's quarterly revenue was up 26.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Alexandria Real Estate Equities will post 8.41 earnings per share for the current fiscal year.
Alexandria Real Estate Equities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $1.18 per share. This is a positive change from Alexandria Real Estate Equities's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $4.72 annualized dividend and a yield of 2.76%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently 255.14%.
Insider Buying and Selling
In related news, major shareholder Real Estate Equitie Alexandria purchased 3,500,000 shares of the business's stock in a transaction on Monday, June 27th. The shares were purchased at an average price of $1.00 per share, with a total value of $3,500,000.00. Following the completion of the purchase, the insider now owns 4,555,077 shares in the company, valued at approximately $4,555,077. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Real Estate Equitie Alexandria purchased 3,500,000 shares of the business's stock in a transaction on Monday, June 27th. The shares were purchased at an average price of $1.00 per share, with a total value of $3,500,000.00. Following the completion of the purchase, the insider now owns 4,555,077 shares in the company, valued at approximately $4,555,077. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maria C. Freire sold 2,311 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $163.04, for a total transaction of $376,785.44. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $489,120. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.
