Wedbush lowered the firm’s price target on Alexandria Real Estate (ARE) to $120 from $130 and keeps a Neutral rating on the shares. The firm notes Alexandria Real Estate reported a footnote-heavy Q3 result involving the impact from future asset sales, lease expirations, asset-specific strategy shifts to redevelopment, and expected NOI downtimes that Wedbush thinks may make FFO growth out of reach for 2025.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARE:
- Alexandria narrows FY24 adjusted FFO view to $9.45-$9.49 from $9.41-$9.53
- Alexandria Real Estate reports Q3 adjusted FFO $2.37, consensus $2.38
- Alexandria Real Estate options imply 2.0% move in share price post-earnings
- Options Volatility and Implied Earnings Moves Today, October 21, 2024
- Alexandria Real Estate price target lowered to $135 from $140 at Deutsche Bank