Alexandria Real Estate Equities (NYSE:ARE) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Alexandria Real Estate Equities (NYSE:ARE) in a report issued on Wednesday morning,RTT News reports. They currently have a $104.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on ARE. Evercore ISI cut their target price on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their target price for the stock from $135.00 to $112.00 in a research report on Friday, November 15th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and cut their price target for the company from $133.00 to $121.00 in a report on Wednesday, November 27th. Finally, JMP Securities restated a “market outperform” rating and set a $130.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.30.

Alexandria Real Estate Equities Stock Performance

NYSE:ARE opened at $95.98 on Wednesday. Alexandria Real Estate Equities has a twelve month low of $94.35 and a twelve month high of $130.14. The company has a market capitalization of $16.77 billion, a P/E ratio of 58.52, a price-to-earnings-growth ratio of 3.85 and a beta of 1.16. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $101.92 and a two-hundred day moving average price of $111.87.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $1.48. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. As a group, research analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.50%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, December 31st. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 321.95%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARE. Catalyst Capital Advisors LLC purchased a new position in shares of Alexandria Real Estate Equities in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in Alexandria Real Estate Equities in the 3rd quarter valued at $30,000. Venturi Wealth Management LLC raised its position in Alexandria Real Estate Equities by 144.0% in the third quarter. Venturi Wealth Management LLC now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 180 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Alexandria Real Estate Equities in the third quarter valued at about $43,000. Finally, M&R Capital Management Inc. acquired a new position in shares of Alexandria Real Estate Equities during the third quarter worth about $50,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.

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.