Citigroup upgraded shares of Alexandria Real Estate Equities (NYSE:ARE) from a neutral rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. Citigroup currently has $144.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $133.00.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a hold rating to a buy rating and set a $136.00 price objective for the company in a research note on Monday, October 29th. Evercore ISI set a $148.00 price objective on shares of Alexandria Real Estate Equities and gave the company a buy rating in a research note on Monday, October 15th. Eight equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average target price of $120.34.

NYSE:ARE opened at $127.08 on Monday. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.89 and a beta of 0.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.27 and a quick ratio of 0.27. Alexandria Real Estate Equities has a fifty-two week low of $114.00 and a fifty-two week high of $134.37.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $1.50. The business had revenue of $341.80 million during the quarter, compared to analyst estimates of $343.42 million. Alexandria Real Estate Equities had a net margin of 34.48% and a return on equity of 6.50%. Alexandria Real Estate Equities’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business earned $1.51 EPS. Equities research analysts expect that Alexandria Real Estate Equities will post 6.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.93. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.05%. Alexandria Real Estate Equities’s payout ratio is currently 61.79%.

In other news, CEO Stephen Richardson sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $125.09, for a total value of $938,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Ryan sold 7,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $127.66, for a total transaction of $893,620.00. Following the completion of the sale, the insider now owns 132,781 shares of the company’s stock, valued at $16,950,822.46. The disclosure for this sale can be found here. Insiders sold 39,950 shares of company stock valued at $4,977,349 over the last quarter. Company insiders own 1.41% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Advisors Preferred LLC grew its stake in shares of Alexandria Real Estate Equities by 142.3% in the second quarter. Advisors Preferred LLC now owns 860 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 505 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $164,000. NumerixS Investment Technologies Inc bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $177,000. Private Advisor Group LLC bought a new stake in shares of Alexandria Real Estate Equities in the second quarter worth approximately $206,000. Finally, Alethea Capital Management LLC purchased a new position in shares of Alexandria Real Estate Equities in the third quarter worth approximately $207,000.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.8 billion and an asset base in North America of 32.0 million SF as of June 30, 2018.

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Analyst Recommendations for Alexandria Real Estate Equities (NYSE:ARE)

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