RBC Capital Downgrades Alexandria Real Estate Equities: What Investors Should Know
On October 25, 2024, RBC Capital revised its outlook for Alexandria Real Estate Equities (LSE:0HCH), changing it from Outperform to Sector Perform.
Analyst Price Forecast Indicates Potential Growth
As of October 22, 2024, analysts project an average one-year price target of 133.37 GBX per share for Alexandria Real Estate Equities. This forecast presents a range from a low of 120.97 GBX to a high of 148.82 GBX, suggesting a potential upside of 13.51% from its recent closing price of 117.50 GBX per share.
Projected Revenue Shows Decline
The anticipated annual revenue for Alexandria Real Estate Equities stands at 2,743MM, reflecting a decline of 11.10%. Additionally, the expected annual non-GAAP EPS is reported at 3.82.
Fund Sentiment Appears Strong
Currently, 1,386 funds and institutions hold stakes in Alexandria Real Estate Equities. This marks an increase of 18 new shareholders, or 1.32%, in the last quarter. The average portfolio weight for all funds invested in 0HCH is 0.37%, which has risen by 12.18%. In the past three months, institutional ownership has grown by 7.39% to reach 186,572K shares.
Norges Bank reports holding 16,457K shares, translating to 9.42% ownership in the company, marking an increase of 100.00% since its previous filing.
APG Asset Management US currently owns 7,147K shares, or 4.09% of Alexandria, down from 7,257K shares, representing a decrease of 1.54% in its stake. The firm’s portfolio allocation in 0HCH has decreased by 10.10% in that time.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 6,306K shares, about 3.61% of the company, down from 6,740K shares, indicating a decrease of 6.88%. Its allocation has dropped by 15.62% this quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has 5,509K shares, representing 3.15% ownership, and its share count is down slightly from 5,527K shares, or 0.33%. The firm’s allocation in 0HCH has lowered by 12.05% over the last quarter.
Principal Financial Group owns 5,420K shares, which corresponds to 3.10% of Alexandria, a slight decrease from the previously reported 5,458K shares, marking a decrease of 0.69%. This firm has reduced its allocation in 0HCH by a significant 50.27% this past quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
