Mizuho analyst Vikram Malhotra raised the firm’s price target on Alexandria Real Estate to $154 from $145 and keeps a Buy rating on the shares. Despite valuations screening somewhat expensive, healthcare real estate investment trusts have several positive drivers heading into 2024, including, fundamental strength – specifically pricing power, inflection in sentiment towards certain segments, growing external growth opportunities, and a supportive macro environment, the analyst tells investors in a research note. Skilled nursing is the firm’s preferred sub-sector followed closely by senior housing. Omega Healthcare Investors (OHI) and Welltower (WELL) remain Mizuho’s top picks, and it added Ventas (VTR) as a top pick as well.
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Read More on ARE:
- Alexandria Real Estate leases property in SF Bay Area to Cargo Therapeutics
- Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.27 per Common Share for 4Q23, an Increase of 3 Cents Over 3Q23, and an Aggregate of $4.96 per Common Share for 2023, an Increase of 24 Cents, or 5 Percent, Over 2022
- Alexandria Real Estate raises quarterly dividend to $1.27 from $1.24 per share
- Alexandria Real Estate price target raised to $119 from $115 at Evercore ISI
- Alexandria Real Estate price target lowered to $140 from $160 at JMP Securities
