Alexandria Real Estate (ARE) Nears 17-Year Low as Analyst ‘Bearish’

Alexandria Real Estate Equities Inc. (NYSE:ARE) is one of the 10 Stocks Reeling From Huge Losses.

Alexandria Real Estate fell to a nearly 17-year low on Tuesday, shedding 11.30 percent to finish at $40.41 apiece, as investors took heart from an investment firm’s bearish stance for its stock despite posting strong earnings in the first quarter of the year.

In a market note, BNP Paribas downgraded its price target for Alexandria Real Estate Equities Inc. (NYSE:ARE) by 13.6 percent to $44 from $50 previously, while maintaining an “underperform” rating.

For illustration purposes only. Photo by Mahmoud Zakariya on Pexels

The coverage followed the drop in occupancy rates for the first quarter of the year, at 87.7 percent versus 91.7 percent in the same period last year.

However, profits remained strong, having swung to a $358.87 million net profit attributable to shareholders versus a loss attributable to shareholders of $11.6 million in the same quarter a year earlier, and the $1.08 billion loss the quarter prior.

For the full-year period, Alexandria Real Estate Equities Inc. (NYSE:ARE) lowered its occupancy rate outlook to a range of 86.2 percent to 87.8 percent, versus the 87.7 percent to 89.3 percent projected previously.

Net operating loss was also increased to a range of 8.5 percent to 10.5 percent from 7.5 percent to 9.5 percent prior.

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