|Over a week ago|
Alexandria Real Estate raises construction spending view to $1.35B from $960M » 16:2107/2707/27/20
Our guidance issued on…
Our guidance issued on July 27 was updated to address the continuing tenant demand for our development and redevelopment pipeline in part due to COVID-19 requirements, as well as existing and anticipated attractive acquisition opportunities in our markets, which will be partially funded through forecasted real estate dispositions and partial interest sales. Key updates to our sources and uses include: Increased midpoint for our 2020 construction spending guidance range from $960 to $1.35B; an additional $900M to $1.3B of real estate acquisitions in 2H20, including acquisitions completed in July; increased midpoint of our real estate dispositions and partial interest sales from $50.0M-$1.25B, which is expected to fund a portion of the increase in construction spending and acquisitions in addition to providing significant capital for growth over the next two to three quarters.
Alexandria Real Estate reports Q2 FFO $1.81, consensus $1.81 » 16:1907/2707/27/20
Reports Q2 revenue…
Reports Q2 revenue $437.0M, consensus $339.45M. Reports Q2 NOI of $1.1B annualized, up $165.0M, or 17.6%, compared to 2Q19 annualized.
Alexandria Real Estate price target lowered to $185 from $190 at Mizuho » 07:0407/2007/20/20
Mizuho analyst Omotayo…
Mizuho analyst Omotayo Okusanya lowered the firm's price target on Alexandria Real Estate to $185 from $190 and keeps a Buy rating on the shares. The analyst reduced earnings estimates across the office real estate investment trust sector to reflect the view that resolution of the COVID-19 pandemic is increasingly looking like a 2021, not 2020, event. This suggests employees work from home longer, creating a "more permanent change" in employee behavior which has negative ramification for office fundamentals, Okusanya tells investors in a research note.
Fly Intel: Pre-market Movers » 09:1107/0707/07/20
NVAX, CRVS, LVGO, RUN, VSLR, ENDP, REGN, EOLS, D, ARE, COMM
Check out this morning's…
Alexandria Real Estate 5M share Spot Secondary priced at $160.50 » 06:4307/0707/07/20
The deal size was…
The deal size was increased to 6M shares of common stock from 5M shares of common stock and priced within the $158.20-$163.15 range. Citi, BofA, Goldman Sachs and JPMorgan acted as joint book running managers for the offering.
Fly Intel: After-Hours Movers » 19:0807/0607/06/20
OTIC, XSPA, CEMI, GLDD, PSN, KINS, MARK, CLLS, TRIB, RVMD, PCRX, ARE, KMI
Check out this evening's…
Alexandria Real Estate 5M share Spot Secondary; price range $158.20-$163.15 » 16:1507/0607/06/20
Citi is acting as lead…
Citi is acting as lead book running manager for the offering.
Alexandria Real Estate announces offering of 5M shares of common stock » 16:1207/0607/06/20
Alexandria Real Estate…
Alexandria Real Estate Equities announced that it is commencing an underwritten public offering of 5M shares of the company's common stock, subject to market conditions, in connection with the forward sale agreements. Citigroup, BofA Securities, Goldman Sachs, and J.P. Morgan are acting as joint book-running managers for the offering.
|Over a month ago|
Alexandria Real Estate resumed with an Outperform at JMP Securities » 06:2906/0806/08/20
JMP Securities analyst…
JMP Securities analyst Aaron Hecht resumed coverage of Alexandria Real Estate with an Outperform rating and $185 price target. The company's underlying real estate assets are ideally positioned to outperform during/following the COVID-19 pandemic, as a number of its tenants working directly on COVID-19 therapeutics, the analyst tells investors in a research note. Hecht adds that the value of the biotech industry has been spotlighted during the pandemic.
Fly Intel: Top five weekend stock stories » 18:4705/1005/10/20
TSLA, GILD, RF, SNV, FFWM, ACBI, TCF, CFG, PB, BXS, TD, BMO, IBTX, PFE, CTLT, LZAGY, TMO, BYD, TCEHY, BABA, JD, EQIX, QTS, AMT, SBAC, ARE, PLD, DEI, AVB, EQR, ADC, FCPT
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. In a blog post, Tesla (TSLA) said that, "Contrary to the Governor's recent guidance and support from the City of Fremont, Alameda County is insisting we should not resume operations. This is not for lack of trying or transparency since we have met with and collaborated on our restart plans with the Alameda County Health Care Services Agency. Unfortunately, the County Public Health Officer who is making these decisions has not returned our calls or emails. [...] the County's position left us no choice but to take legal action to ensure that Tesla and its employees can get back to work. We filed a lawsuit on May 9 asking the court to invalidate the County Orders, to the extent the County claims they prevent Tesla from resuming operations. Meanwhile, CEO Elon Mush said in a series of tweets that, "Tesla is filing a lawsuit against Alameda County immediately. The unelected & ignorant "Interim Health Officer" of Alameda is acting contrary to the Governor, the President, our Constitutional freedoms & just plain common sense! [...] Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependent on how Tesla is treated in the future. Tesla is the last carmaker left in CA." 2. The U.S. Department of Health and Human Services said it would allow state health departments to distribute Gilead Sciences' (GILD) remdesivir drug to fight COVID-19, and the U.S. would receive about 40% of the drug maker's global donation, according to Reuters. 3. The U.S. has lost nearly 40% of its banks since the financial crisis, largely due to industry consolidation, and many industry observers see the trend resuming once the nation's health crisis passes and economic activity begins to normalize, Carleton English wrote in this week's edition of Barron's. The publication identified at least six potential targets, namely Regions Financial (RF), Synovus Financial (SNV), First Foundation (FFWM), Atlantic Capital (ACBI), TCF Financial (TCF), and Citizens Financial (CFG). On the potential buyers side, Barron's highlights Prosperity Bancshares (PB), BancorpSouth Bank (BXS), Toronto-Dominion Bank (TD), Bank of Montreal (BMO), and Independent Bank (IBTX). 4. Pfizer (PFE) said it is in talks to shift more of its medicine production to outside contractors as it prepares for large-scale production of an experimental vaccine to prevent COVID-19, should it prove safe and effective, Reuters' Carl O'Donnell and Michael Erman reported. The U.S. drugmaker is tapping its network of around 200 outside contractors, which includes Catalent (CTLT), Lonza Group (LZAGY), and Thermo Fisher Scientific (TMO), to play a bigger role in producing some of its existing medicines, Mike McDermott, president of global supply at Pfizer, told Reuters in an interview. 5. Boyd Gaming (BYD), Tencent (TCEHY), Alibaba (BABA), JD.com (JD), Equinix (EQIX), QTS Realty (QTS), American Tower (AMT), SBA Communications (SBAC), Alexandra Real Estate (ARE), Prologis (PLD), Douglas Emmett (DEI), AvalonBay Communities (AVB), Equity Residential (EQR), Agree Realty (ADC), and Four Corners (FCPT) saw positive mentions in this week's edition of Barron's.