JPMorgan Chase & Co. Downgrades Alexandria Real Estate Equities (NYSE:ARE) to Neutral

Alexandria Real Estate Equities (NYSE:ARE) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They presently have a $121.00 target price on the real estate investment trust’s stock, down from their prior target price of $133.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.27% from the stock’s current price.

Several other research firms also recently weighed in on ARE. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. JMP Securities cut their target price on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating on the stock in a research note on Friday, November 15th. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $130.00 to $125.00 in a report on Friday, September 13th. Robert W. Baird lowered their price target on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective (down from $130.00) on shares of Alexandria Real Estate Equities in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.73.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE opened at $111.76 on Wednesday. Alexandria Real Estate Equities has a 1 year low of $102.89 and a 1 year high of $135.45. The firm has a market cap of $19.53 billion, a P/E ratio of 68.15, a PEG ratio of 4.06 and a beta of 1.16. The stock has a fifty day moving average price of $115.07 and a two-hundred day moving average price of $117.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%. The company had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. During the same period last year, the firm earned $2.26 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts forecast that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Alexandria Real Estate Equities

Several institutional investors and hedge funds have recently modified their holdings of ARE. State Street Corp raised its holdings in Alexandria Real Estate Equities by 1.1% during the third quarter. State Street Corp now owns 10,585,038 shares of the real estate investment trust’s stock valued at $1,270,634,000 after buying an additional 112,864 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Alexandria Real Estate Equities by 0.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,073,312 shares of the real estate investment trust’s stock valued at $476,455,000 after acquiring an additional 35,216 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alexandria Real Estate Equities by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,450,902 shares of the real estate investment trust’s stock valued at $291,045,000 after acquiring an additional 72,934 shares in the last quarter. M&G Plc raised its stake in shares of Alexandria Real Estate Equities by 4.9% in the 2nd quarter. M&G Plc now owns 1,659,092 shares of the real estate investment trust’s stock valued at $194,114,000 after acquiring an additional 77,686 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in Alexandria Real Estate Equities by 11,449.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,423,630 shares of the real estate investment trust’s stock worth $169,056,000 after purchasing an additional 1,411,304 shares during the last quarter. Institutional investors and hedge funds 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.