Alexandria Real Estate Equities (NYSE:ARE) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities (NYSE:ARE) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $121.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $133.00.

Several other research firms have also recently issued reports on ARE. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Wedbush cut their target price on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities dropped their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Alexandria Real Estate Equities in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.73.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE opened at $110.23 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 67.21, a price-to-earnings-growth ratio of 4.14 and a beta of 1.16. The stock’s 50-day moving average is $114.35 and its two-hundred day moving average is $117.02. Alexandria Real Estate Equities has a 1-year low of $102.89 and a 1-year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share 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 firm had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same quarter in the previous year, the company posted $2.26 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts forecast that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is currently 317.07%.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in Alexandria Real Estate Equities by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 259,983 shares of the real estate investment trust’s stock valued at $33,514,000 after buying an additional 1,253 shares during the period. Tidal Investments LLC raised its holdings in Alexandria Real Estate Equities by 66.2% during the first quarter. Tidal Investments LLC now owns 7,801 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 3,107 shares in the last quarter. LBP AM SA boosted its holdings in Alexandria Real Estate Equities by 136.4% in the 1st quarter. LBP AM SA now owns 9,899 shares of the real estate investment trust’s stock valued at $1,276,000 after purchasing an additional 5,711 shares in the last quarter. Wahed Invest LLC boosted its holdings in Alexandria Real Estate Equities by 14.8% in the 1st quarter. Wahed Invest LLC now owns 3,357 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 432 shares in the last quarter. Finally, Virtu Financial LLC increased its position in Alexandria Real Estate Equities by 5.6% during the 1st quarter. Virtu Financial LLC now owns 4,352 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

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.