3. Alexandria Real Estate Equities (ARE) offers real estate and related services to the life science industry. The company has a market cap exceeding $4 billion. It had 171 properties aggregating gross rentable area of approximately 14.9 million square feet, as of Oct. 25.
Of the 15 analysts covering the stock, 73% recommend a buy and 27% suggest a hold. Analysts' average 12-month price target for the stock is about 14.3% higher than the current price at $77.17, according to a Bloomberg consensus.
The company reported total revenue of $143.4 million for the quarter ended Sept. 30, up 19.2% from $120.3 million in the same period prior year. Net income amounted to $32.9 million, up 8% from 430.4 million in the corresponding quarter earlier year. In the third quarter, the company executed 56 leases for 985,000 rentable square feet, including 458,000 rentable square feet of Redevelopment and Development Space -- the second highest single quarter of leasing activity in its history.Alexandria recently declared a quarterly cash dividend of 49 cents per common share for the fourth quarter of 2011 payable Jan. 17, 2012 to shareholders of record Dec. 30, 2011. The company recently broke ground for its $500 million Alexandria Center at Kendall Square in Cambridge, a 1.73 million s/f, 11-acre, build-to-suit science and technology campus.
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