RBC Capital analyst Michael Carroll lowered the firm’s price target on Alexandria Real Estate to $138 from $163 and keeps an Outperform rating on the shares. The firm is adjusting its estimates to reflect recent tenant news and more conservative leasing / asset sale assumptions, the analyst tells investors in a research note. While the life science real estate sector has strong long-term fundamental tailwinds, the space is navigating near-term headwinds that include the capital markets disruption and near-term supply concerns, RBC added.
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