Alexandria Real Estate (ARE) PT Raised to $144 at RBC Capital

RBC Capital raised its price target on Alexandria Real Estate (NYSE: ARE) to $144.00 (from $135.00) while maintaining an Outperform rating.

Analyst Wes Golladay commented, "ARE has been active positioning the portfolio for the next leg of growth. The team completed a large equity offering in January, announced executive changes in March/April, and acquired several value-add properties. We remain encouraged by the near- and long-term growth prospects and expect the company to generate 6.0–8.0% FFO growth through YE20. Our rating is unchanged and our PT is now $144/share."

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