Barclays Maintains an 'Overweight' on Alexandria Real Estate (ARE); Momentum Building, But...
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Price: $77.31 -0.63%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ARE Now!
Barclays maintains an 'Overweight' on Alexandria Real Estate (NYSE: ARE) price target of $84.00 (from $91.00).
Analyst, Ross L. Smotrich, said, "ARE continues to sign a large volume of leases and find attractive investments that often combine operating acquisitions with development. However, the stock has underperformed its office peers by 569 bps YTD, at least in part due to concerns around R&D spending and continued lease-up of developments. Q2 leasing progress at projects in San Fran, Boston and Seattle should help the story, although occupancy in the operating portfolio was down 30 bps sequentially. We think life science market conditions/tenant demand will perform better than average in the medium term and believe the current stock price represents an attractive entry point."
Smotrich raises FY12 FFO from $4.27 to $4.36, but lowers FY13 from $4.82 to $4.79.
For an analyst ratings summary and ratings history on Alexandria Real Estate click here. For more ratings news on Alexandria Real Estate click here.
Shares of Alexandria Real Estate closed at $73.95 yesterday, with a 52 week range of $56.10-$76.50.
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Analyst, Ross L. Smotrich, said, "ARE continues to sign a large volume of leases and find attractive investments that often combine operating acquisitions with development. However, the stock has underperformed its office peers by 569 bps YTD, at least in part due to concerns around R&D spending and continued lease-up of developments. Q2 leasing progress at projects in San Fran, Boston and Seattle should help the story, although occupancy in the operating portfolio was down 30 bps sequentially. We think life science market conditions/tenant demand will perform better than average in the medium term and believe the current stock price represents an attractive entry point."
Smotrich raises FY12 FFO from $4.27 to $4.36, but lowers FY13 from $4.82 to $4.79.
For an analyst ratings summary and ratings history on Alexandria Real Estate click here. For more ratings news on Alexandria Real Estate click here.
Shares of Alexandria Real Estate closed at $73.95 yesterday, with a 52 week range of $56.10-$76.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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