Jefferies downgraded Alexandria Real Estate to Hold from Buy with a price target of $127, down from $136. The firm expected fundamental pressures to remain in Alexandria’s Q2, but says there were two negative surprises in the quarter: The move-out of three tenants in 2025, with 12-24 months of expected downtime, and the dilutive sale of a building in New York City to fund development capital needs. Despite improvements in biotech funding, Jefferies does not anticipate an imminent inflection in leasing demand, and sees 2% downside to Alexandria’s 2025 estimates, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARE:
- Alexandria Real Estate downgraded to Neutral from Buy at BofA
- Alexandria Real Estate downgraded to In Line from Outperform at Evercore ISI
- Wedbush downgrades Alexandria Real Estate on market oversupply
- Alexandria Real Estate downgraded to Neutral from Outperform at Wedbush
- Alexandria Real Estate reaffirms FY24 FFO view $9.41-$9.53, consensus $9.49