Alexandria Real Estate Equities Inc. (NYSE:ARE) traded today at a new 52-week high of $219.47. Approximately 168,000 shares have changed hands today, as compared to an average 30-day volume of 628,000 shares.
In the past 52 weeks, Alexandria Real Estate Equities Inc. share prices are bracketed by a low of $154.37 and a high of $219.47 and is now at $218.15, 41% above that low price.
Alexandria Real Estate Equities Inc. (NYSE:ARE) defies analysts with a current price ($218.15) 10.8% above its average consensus price target of $194.68.
Alexandria Real Estate Equities Inc is a real estate investment trust primarily engaged in the acquisition, development, and leasing of urban offices on science and technology campuses throughout the United States. The company redevelops offices, warehouses, and shell space for its tenants in areas close to high concentrations of specialized research institutions and businesses. The majority of Alexandria’s real estate portfolio is split between the Greater Boston and San Francisco areas. The company derives nearly all of its income in the form of revenue from its tenant companies. Alexandria’s largest customers in terms of revenue are public biotechnology, multinational pharmaceutical, life science product, and academic and medical research entities.
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