Alexandria Real Estate (ARE) Approaches 17-Year Low Amid Analyst Downgrade
Alexandria Real Estate Equities Inc. (NYSE:ARE) fell to a nearly 17-year low, dropping 11.30% to $40.41, following a bearish outlook from BNP Paribas despite strong first-quarter earnings. The firm downgraded its price target for ARE by 13.6% to $44 and maintained an 'underperform' rating, citing declining occupancy rates and revised full-year projections.
Tickers: $ARE
Topics: analyst downgrade earnings performance occupancy rates real estate stock price decline