Alexandria Real Estate Equities Inc (ARE) was Reiterated by Mizuho to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 113 from a previous price target of $110 . Mizuho advised their investors in a research report released on Jul 8, 2016.
On the company’s financial health, Alexandria Real Estate Equities Inc reported $1.34 EPS for the quarter, based on the information available during the earnings call on May 2, 2016. Analyst had a consensus estimate of $1.34. The company had revenue of $216.08 million for the quarter, compared to analysts expectations of $212.46 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.
Alexandria Real Estate Equities Inc opened for trading at $104.18 and hit $105.03 on the upside on Tuesday, eventually ending the session at $105.03, with a gain of 0.76% or 0.79 points. The heightened volatility saw the trading volume jump to 3,15,207 shares. Company has a market cap of $7,759 M.
In a different news, on Jun 9, 2016, Peter M Moglia (Chief Investment Officer) sold 4,000 shares at $96.90 per share price. According to the SEC, on May 31, 2016, Thomas J Andrews (EVP – Regional Market Director) sold 4,600 shares at $96.88 per share price. On May 23, 2016, James H Richardson (director) sold 2,500 shares at $92.98 per share price, according to the Form-4 filing with the securities and exchange commission.
Alexandria Real Estate Equities Inc. is a self-administered and self-managed real estate investment (REIT). The Company is engaged in the business of providing office/laboratory and tech office space for lease to the science and technology industries. The Company has five properties in Canada as well as eight operating properties one development project and several land parcels in Asia. As of December 31 2014 the Company had 193 properties containing approximately 18.7 million rentable square feet (RSF) of office/laboratory and tech office space. As of December 31 2014 the Company had 562 leases with a total of 441 client tenants and 87 of its 193 properties were single-tenant properties. The Companys portfolio includes Alexandria Center at Kendall Square; Alexandria Park at 128; Alexandria Technology Center-Gateway; Alexandria Center for Life Science; ARE Nautilus; ARE Towne Centre; ARE Portola and Alexandria Technology Center-Gaithersburg I among others.