Alexandria Real Estate Equities (NYSE:ARE) Price Target Lowered to $57.00 at JPMorgan Chase & Co.

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JPMorgan Chase & Co. has lowered its price target for Alexandria Real Estate Equities (NYSE:ARE) from $63.00 to $57.00, maintaining a “neutral” rating despite the company beating Q1 EPS estimates. The real estate investment trust’s revenue was down year-over-year, and it reported negative net margin and return on equity. Despite these financial metrics, the board authorized a $500 million share buyback, and insiders have been purchasing shares.

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