Shares of Alexandria Real Estate Equities Inc. (NYSE:ARE) traded today at $195.32, eclipsing its 52-week high. This new high was reached on below average trading volume as 184,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.
Alexandria Real Estate Equities Inc. (NYSE:ARE) has potential upside of 1.0% based on a current price of $195.21 and analysts’ consensus price target of $197.07.
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.
In the past 52 weeks, shares of Alexandria Real Estate Equities Inc. have traded between a low of $150.08 and a high of $195.32 and is now at $195.21, which is 30% above that low price.
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