KBW Has $79 Target On Alexandria Real Estate Equities (ARE)

Keefe Bruyette & Woods has a $79 target on shares of Alexandria Real Estate Equities, Inc. ARE after doing a research report on the office and industrial REIT's. It also rates shares at Outperform. In a note to clients, KBW writes, "SWe have aggregated the occupancy, SS NOI, and renewal rent increase statistics for the office and industrial REITs, and have parceled the office data into segments—CBD office, suburban office, and specialty office. The attached report (in PDF) discusses the fundamental trends, the outlook and translates that to the stocks. We believe the specialty office REIT sector offers opportunities at this juncture after underperformance year to date. We are focusing investors on Outperform-rated Corporate Office Properties (OFC) and Alexandria Real Estate Equities (ARE) at this juncture." Shares of ARE closed at $70.05 today, up $1.09.