Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Alexandria Real Estate to $135 from $137 and keeps an Outperform rating on the shares. The analyst updated office real estate investment trust models post the Q2 reports. Leasing continues to be challenging as recession fears and capital preservation put leasing decisions on hold, the analyst tells investors in a research note. While noting the macro outlook and rates are changing daily, the firm expects the office sector to continue to face some headwinds through 2023 and into the first half of 2024.
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- Alexandria Real Estate price target lowered to $160 from $180 at JMP Securities
- Alexandria Real Estate reports Q2 adjusted FFO $2.24, consensus $2.20
- Alexandria Real Estate Equities, Inc. Reports: 2Q23 and 1H23 Net Income per Share – Diluted of $0.51 and $0.95, respectively; and 2Q23 and 1H23 FFO per Share – Diluted, As Adjusted, of $2.24 and $4.43, respectively
- Alexandria Real Estate reports Q2 EPS 51c, consensus 63c