BofA analyst Joshua Dennerlein downgraded Alexandria Real Estate to Neutral from Buy with a price target of $126, down from $151. Following Q2 results, the firm lowered its FY25 core FFO estimate to $9.55 from $9.79 and its FY26 core FFO estimate to $9.81 from $10.15, noting that its forecasts are now 1.1% and 2.1% below the Street, respectively.
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Read More on ARE:
- 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
- Alexandria Real Estate reports Q2 FFO $2.36, consensus $2.34