J.P. Morgan analyst Anthony Paolone downgrades $Alexandria Real Estate Equities Inc (ARE.US)$ to a hold rating, and adjusts the target price from $133 to $121.
According to TipRanks data, the analyst has a success rate of 50.7% and a total average return of 1.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Alexandria Real Estate Equities Inc (ARE.US)$'s main analysts recently are as follows:
Reduced growth projections for Alexandria Real Estate incorporate softer core growth assumptions, reflecting potential downtime while backfilling space due to lease expirations. Furthermore, a reduced contribution from development and an increase in ground rent expenses are anticipated. The leasing demand in the life science segment remains mediocre, and the absorption of excess supply in some key markets is expected to take time.
Heading into the annual investor day on December 4, it is believed that the FY25 consensus estimates are set too high and will likely come in below FY24 results due to persistent headwinds. The projections currently stand 2% below consensus for FY25 and 3% below that of other industry forecasts for FY26.
Note:
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