Evercore ISI Group Upgrades Alexandria Real Estate Equities Inc to Outperform

Brokerage firm Evercore ISI Group Upgrades its rating on Alexandria Real Estate Equities Inc(ARE). The shares have been rated Outperform. Previously, the analysts had a In-Line rating on the shares. The rating by the stock financial advisor at Evercore ISI Group was issued on Mar 21, 2017 in a research report to their Investors and Clients.

Alexandria Real Estate Equities Inc (ARE) shares turned negative on Fridays trading session with the shares closing down -0.73 points or -0.65% at a volume of 6,28,393. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $112.62. The peak price level was also seen at $112.62 while the days lowest was $111.105. Finally the shares closed at $111.36. The 52-week high of the shares is $120.9599 while the 52-week low is $87.45. According to the latest information available, the market cap of the company is $10,660 M.

Alexandria Real Estate Equities Inc(ARE) last announced its earnings results on Jan 30, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $249.162M. Analysts had an estimated revenue of $181.320M. Earnings per share were $1.42.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2017, Thomas J Andrews (EVP – Regional Market Director) sold 5,000 shares at $120.60 per share price.Also, On Feb 15, 2017, Peter M Moglia (Chief Investment Officer) sold 5,000 shares at $114.02 per share price.On Feb 10, 2017, Stephen Richardson (Chief Operating Officer) sold 6,000 shares at $113.94 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 Company’s 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.

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