RBC Capital analyst Michael Carroll lowered the firm’s price target on Alexandria Real Estate (ARE) to $114 from $125 and keeps a Sector Perform rating on the shares. The firm is updating its estimates with outlook for lower 2025 organic growth and higher asset sales offset by lower-than-expected G&A expenses following the company Investor Day presentation, the analyst tells investors in a research note. The biggest unknown is when will leasing activity reaccelerate, and while the fundamental environment is soft, Alexandria and other top peers should win incremental market share, the firm adds.
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