Evercore ISI raised the firm’s price target on Alexandria Real Estate to $133 from $132 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results for select REITs. While the healthcare sector is trading at a 22% premium to consensus net asset value, the REIT is trading below its respective long-term averages given concerns relating primarily to the lab/life science market fundamentals, the analyst tells investors in a research note. The Q2-Q4 of 2024 deliveries reflect 96% and 98% leased and leased negotiating thresholds, offering strong visibility into the anticipated associated net operating income contribution to 2024 earnings, the firm added.
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