P
eter Moglia, CEO of Alexandria Real Estate Equities (ARE), recently sold 10,000 shares of common stock for approximately $1.02 million. The sale occurred on December 16, 2024, at prices ranging from $102.16 to $102.44. Following the transaction, Moglia holds 228,727 shares directly.
Alexandria Equities is a Pasadena-based real estate investment trust with a market capitalization of $17.2 billion and a notable 5.2% dividend yield. The company has maintained dividend payments for 28 consecutive years. InvestingPro subscribers have access to additional insights about ARE, including a comprehensive Pro Research Report.
Recent analyst adjustments include RBC Capital Markets reducing its price target to $114 from $125, citing lower organic growth and increased asset sales. Mizuho Securities also reduced its price target to $121 while maintaining an Outperform rating. JPMorgan and Deutsche Bank downgraded the stock due to concerns about future earnings. Jefferies maintained a Hold rating but reduced the price target to $114.
These adjustments follow Alexandria's robust third-quarter performance in 2024, which featured a 48% increase in leasing activity. The company reported a 4.9% increase in Funds From Operations (FFO) per share and a 10.9% rise in total revenues. Alexandria also initiated a stock repurchase program, authorizing the buyback of up to $500 million.
As analyst adjustments continue, investors will be watching for updates on the company's financial strategies and performance amidst recent shifts in the financial landscape.
