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Citigroup Downgrades Alexandria Real Estate Equities Inc. (ARE) to a Neutral from a Buy

Alexandria Real Estate Equities Inc.’s recently made public that its Director Cain James P unloaded Company’s shares for reported $42456.0 on Sep 16 ’24. In the deal valued at $124.87 per share,340 shares were sold. As a result of this transaction, Cain James P now holds 7,032 shares worth roughly $0.85 million.

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Then, CIRUZZI VINCENT sold 6,941 shares, generating $855,756 in total proceeds. Upon selling the shares at $123.29, the Chief Development Officer now owns 83,379 shares.

Before that, CIRUZZI VINCENT bought 6,941 shares. Alexandria Real Estate Equities Inc. shares valued at $855,749 were divested by the Officer at a price of $123.29 per share.

Citigroup downgraded its Alexandria Real Estate Equities Inc. [ARE] rating to a Neutral from a a Buy in a research note published on September 13, 2024; the price target was decreased to $125 from $130. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. BofA Securities also remained covering ARE and has decreased its forecast on July 29, 2024 with a “Neutral” recommendation from previously “Buy” rating. Evercore ISI revised its rating on July 25, 2024. It rated ARE as “an In-line” which previously was an “an Outperform”.

Price Performance Review of ARE

On Friday, Alexandria Real Estate Equities Inc. [NYSE:ARE] saw its stock fall -0.47% to $121.02. Over the last five days, the stock has lost -0.19%. Alexandria Real Estate Equities Inc. shares have fallen nearly -4.54% since the year began. Nevertheless, the stocks have risen 22.57% over the past one year. While a 52-week high of $135.45 was reached on 01/02/24, a 52-week low of $90.73 was recorded on 08/05/24. SMA at 50 days reached $118.57, while 200 days put it at $120.97.

Levels Of Support And Resistance For ARE Stock

The 24-hour chart illustrates a support level at 120.02, which if violated will result in even more drops to 119.02. On the upside, there is a resistance level at 122.89. A further resistance level may holdings at 124.77. The Relative Strength Index (RSI) on the 14-day chart is 50.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.78%. Stochastics %K at 63.94% indicates the stock is a holding.

How much short interest is there in Alexandria Real Estate Equities Inc.?

A steep rise in short interest was recorded in Alexandria Real Estate Equities Inc. stocks on 2024-09-13, growing by 0.28 million shares to a total of 2.81 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 2.53 million shares. There was a rise of 10.04%, which implies that there is a positive sentiment for the stock.

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