BUZZ-BMO cuts Alexandria Real Estate's PT, flags policy headwinds

Reuters12-04 19:20
BUZZ-BMO cuts Alexandria Real Estate's PT, flags policy headwinds

** BMO slashes PT on real estate investment trust $(REIT)$ Alexandria Real Estate Equities ARE.N to $60 from $67

** New PT still an upside of 23.9% from the stock's last close

** Maintains "outperform" rating

** Brokerage says co to face a prolonged biotech slump with recovery years away, citing added pressure from funding cuts, regulatory turnover and drug pricing policies

** BMO slashes ARE's 2026 FFO/unit forecast to $6.39/share from $6.63/share

** Co on Wednesday cut its quarterly dividend by 45% to $0.72 per share for Q4, as compared to Q3

** 4 of 15 brokerages rate the stock "buy" or higher, 10 "hold" and 1 "sell"; their median PT is $65 - data compiled by LSEG

** As of last close, stock down 50.4% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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