{"id":65959,"date":"2023-09-23T23:19:12","date_gmt":"2023-09-24T06:19:12","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=65959"},"modified":"2023-09-23T23:21:15","modified_gmt":"2023-09-24T06:21:15","slug":"alexandria-real-estate-equities-wrong-kind-of-overcrowded","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/","title":{"rendered":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded"},"content":{"rendered":"\n<p>Alexandria Real Estate (ARE), a real estate investment trust (REIT) specializing in life science buildings, gets much love from analysts. <a href=\"https:\/\/insight.factset.com\/where-are-analysts-most-optimistic-on-ratings-for-sp-500-companies-heading-into-q4\">According to Factset<\/a>, ARE is currently one of the most loved companies in the S&amp;P 500 (SPY). ARE is just one of two stocks whose analyst coverage consists 100% of buy ratings. This high &#8220;occupancy rate&#8221; of buy ratings is the wrong kind of overcrowded with the stock plunging to a 7+ year low last week. <a href=\"https:\/\/youtu.be\/rqlVjLpYNMA?si=zu4wFnQbFdJRw4bt\">The Federal Reserve&#8217;s latest missive on monetary policy<\/a> sent interest rates surging and rate-sensitive sectors like REITs into a tailspin. With ARE overcrowded with optimistic analysts, the stock is left without upside catalysts to return the stock to the previous trading range. The sell-side is almost as optimistic as it can get on ARE.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1480\" height=\"847\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230922_ARE-Alexandria-Real-Estate-Equities-Inc.png\" alt=\"Alexandria Real Estate Equities Inc (ARE) broke down from its 6-month trading range into a 7+ year low.\" class=\"wp-image-65972\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230922_ARE-Alexandria-Real-Estate-Equities-Inc.png 1480w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230922_ARE-Alexandria-Real-Estate-Equities-Inc-768x440.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230922_ARE-Alexandria-Real-Estate-Equities-Inc-1320x755.png 1320w\" sizes=\"auto, (max-width: 1480px) 100vw, 1480px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Alexandria Real Estate Equities Inc (ARE) broke down from its 6-month trading range into a 7+ year low.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<p>With the rate environment freshly turning against ARE, some analysts will need to throw their optimism overboard. Those downgrades will chase price downward and serve to affirm the negative price action. Perhaps the stock will bottom when analysts are about as negative as they can get on the sector&#8230;.wherever that point is.<\/p>\n\n\n\n<br><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-1196033822186410\" data-ad-slot=\"3478942445\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Bear Case<\/strong><\/h2>\n\n\n\n<p>If investor Jon Litt is correct, the bottom for ARE is still a long ways away. <a href=\"https:\/\/x.com\/CNBCFastMoney\/status\/1669462186178105344?s=20\">On June 15, 2023 Litt appeared on CNBC&#8217;s Fast Money<\/a> to proclaim this bear case for ARE. At the time, he targeted a decline of as much as 40%, a downside target around $73. ARE was last that low in early 2016. Litt&#8217;s research team used cell phone data to estimate a 50% decline in employee attendance at Alexandria. They filtered the data to cell phones that spent at least 60 minutes in the building. Litt also noted that 20% of leases are coming due over the next few years, and 20% of new supply is coming to market. As one particularly dire example, Litt claimed that renters in Washington DC are shrinking their footprint by 30%.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1172\" height=\"361\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230923_Alexandria-employee-attendance.png\" alt=\"Not overcrowded: Alexandria employee attendance is in significant decline.\" class=\"wp-image-65976\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230923_Alexandria-employee-attendance.png 1172w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/20230923_Alexandria-employee-attendance-768x237.png 768w\" sizes=\"auto, (max-width: 1172px) 100vw, 1172px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Not overcrowded: Alexandria employee attendance is in significant decline.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<p>With such data in hand, it is surprising that Alexandria is one of the most loved stocks in the S&amp;P 500! Alexandria needs the analyst overcrowding in its office spaces!<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Activist investor <a href=\"https:\/\/twitter.com\/JonLitt?ref_src=twsrc%5Etfw\">@JonLitt<\/a> is pounding the table on life science REIT Alexandria.<br><br>He is shorting the name and sees a downside of 40%. <a href=\"https:\/\/twitter.com\/search?q=%24ARE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARE<\/a> <a href=\"https:\/\/t.co\/5AlvTGsFLS\">pic.twitter.com\/5AlvTGsFLS<\/a><\/p>&mdash; CNBC&#39;s Fast Money (@CNBCFastMoney) <a href=\"https:\/\/twitter.com\/CNBCFastMoney\/status\/1669462186178105344?ref_src=twsrc%5Etfw\">June 15, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A Bullish Earnings Report<\/strong><\/h2>\n\n\n\n<p>Alexandria&#8217;s Q2 2023 earnings report certainly gave analysts every reason to stay optimistic. Management provided strong numbers on occupancy rates and rental growth. From <a href=\"https:\/\/seekingalpha.com\/article\/4619734-alexandria-real-estate-equities-inc-are-q2-2023-earnings-call-transcript\">the Seeking Alpha transcript<\/a> of the conference call (emphasis mine): <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Second quarter occupancy was in line with expectations at 93.6%, consistent with first quarter occupancy. <strong>Our outlook for 2023 reflects flat occupancy from the second quarter to the third quarter and occupancy growth in the fourth quarter<\/strong>. The midpoint of occupancy guidance is 95.1%, and occupancy as of June 30 of 93.6% included vacancy of 2.2% or approximately 900,000 rentable square feet from properties that were recently acquired in 2021 and 2022.<\/p>\n\n\n\n<p>Now 23% of the recently acquired vacancy is already &#8212; has already been leased and will be ready for occupancy over the next number of quarters and an additional 14% is under negotiation.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<p>Management went on to reassure analysts that Alexandria could still achieve upside in its already high occupancy rate: &#8220;&#8230;we&#8217;ve been in the 98% occupancy range. So there&#8217;s plenty of room to grow there.&#8221; Moreover, management has strong visibility into its business for the next 2+ years: &#8220;&#8230;our pipeline is set to bring on a tremendous amount of NOI [net operating income] and that gives you visibility all the way into &#8217;25 and a little bit going up to &#8217;26 now.&#8221; <\/p>\n\n\n\n<p>These numbers hardly reflect the alarm of the employee attendance rate numbers from Litt. Alexandria does not indicate any threat from renters reducing footprints to accommodate a high rate of working-from-home employees.<\/p>\n\n\n\n<p>Moreover, Alexandria reported robust rent growth. <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;&#8230;our outlook for rental rate growth for 2023 is a range of 28% to 30%, call it, a midpoint of 28.5%, 12% to 17% with a midpoint of 14.5% on a cash basis. Our rental rate growth for the first quarter, just to remind everybody, was pretty record at 48% and 24% on a cash basis&#8230;When you think about rental rate growth of 16% &#8212; 16.6% on a GAAP basis, 8.3% on a cash basis, that&#8217;s pretty outstanding in this type of market and when you think across the REIT sector today. So we&#8217;re very pleased with the rental rate growth that we actually delivered on the quarter and feel comfortable as we look out that we&#8217;re on track to hit the range of guidance that we gave.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<p>Management explained that its confidence is based on Alexandria&#8217;s unique brand, mega-campus strategy and its operational excellence.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Trade<\/strong><\/h2>\n\n\n\n<p>ARE&#8217;s breakdown plants the stock deeper into bearish territory. Before the breakdown, ARE traded over 50% below its all-time high from December, 2021.<\/p>\n\n\n\n<p>However, at multi-year lows and trading well below its lower Bollinger Band (BB), ARE is short-term over-stretched to the downside. Moreover, the stock market as a whole is right <a href=\"https:\/\/youtu.be\/_-s5xc6K5SI?si=M2auByIbciCwVhh3\">at the edge of oversold trading conditions<\/a>. Accordingly, I am not interested in shorting ARE until it rallies off these lows. If the stock continues to sell-off from here, I will just continue to wait for a rally to fade. I do not want to chase price downward in over-stretched, oversold conditions. If Alexandria&#8217;s financial conditions are as strong as management reports, then the poor employee attendance numbers may only translate into occupancy rates over an extended period of time. Accordingly, the overcrowded conditions in analyst buy ratings may take quite some time to ease.<\/p>\n\n\n\n<p>Be careful out there!<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alexandria Real Estate (ARE), a real estate investment trust (REIT) specializing in life science buildings, gets much love from analysts. According to Factset, ARE is currently one of the most loved companies in the S&amp;P 500 (SPY). ARE is just one of two stocks whose analyst coverage consists 100% of buy ratings. This high &#8220;occupancy &#8230; <a title=\"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":65977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[393,218,220,300],"tags":[3324,3325,358,3326,1100,1140,65,362],"class_list":["post-65959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analyst-coverage","category-commercial-real-estate","category-earnings","category-health-care","tag-alexandria-real-estate-equities-inc","tag-are","tag-cnbc","tag-factset","tag-fast-money","tag-reit","tag-sp-500","tag-spy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alexandria Real Estate Equities: The Wrong Kind of Overcrowded<\/title>\n<meta name=\"description\" content=\"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded\" \/>\n<meta property=\"og:description\" content=\"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-24T06:19:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-24T06:21:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded\",\"datePublished\":\"2023-09-24T06:19:12+00:00\",\"dateModified\":\"2023-09-24T06:21:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/\"},\"wordCount\":922,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/overcrowded.jpg\",\"keywords\":[\"Alexandria Real Estate Equities Inc\",\"ARE\",\"CNBC\",\"Factset\",\"Fast Money\",\"REIT\",\"S&amp;P 500\",\"SPY\"],\"articleSection\":[\"Analyst Coverage\",\"commercial real-estate\",\"Earnings\",\"Health Care\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/\",\"name\":\"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/overcrowded.jpg\",\"datePublished\":\"2023-09-24T06:19:12+00:00\",\"dateModified\":\"2023-09-24T06:21:15+00:00\",\"description\":\"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#primaryimage\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/overcrowded.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/overcrowded.jpg\",\"width\":800,\"height\":533,\"caption\":\"overcrowded (Credit: Fernando Stankuns, crowded train station on Flickr - https:\\\/\\\/www.flickr.com\\\/photos\\\/82289802@N00\\\/3976488849)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2023\\\/09\\\/23\\\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded","description":"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/","og_locale":"en_US","og_type":"article","og_title":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded","og_description":"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.","og_url":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2023-09-24T06:19:12+00:00","article_modified_time":"2023-09-24T06:21:15+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg","type":"image\/jpeg"}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded","datePublished":"2023-09-24T06:19:12+00:00","dateModified":"2023-09-24T06:21:15+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/"},"wordCount":922,"commentCount":2,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#primaryimage"},"thumbnailUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg","keywords":["Alexandria Real Estate Equities Inc","ARE","CNBC","Factset","Fast Money","REIT","S&amp;P 500","SPY"],"articleSection":["Analyst Coverage","commercial real-estate","Earnings","Health Care"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/","url":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/","name":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#primaryimage"},"thumbnailUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg","datePublished":"2023-09-24T06:19:12+00:00","dateModified":"2023-09-24T06:21:15+00:00","description":"Alexandria Real Estate Equities has a high \u201coccupancy rate\u201d of buy ratings, the wrong kind of overcrowded with the stock at 7+ year lows.","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#primaryimage","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2023\/09\/overcrowded.jpg","width":800,"height":533,"caption":"overcrowded (Credit: Fernando Stankuns, crowded train station on Flickr - https:\/\/www.flickr.com\/photos\/82289802@N00\/3976488849)"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2023\/09\/23\/alexandria-real-estate-equities-wrong-kind-of-overcrowded\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Alexandria Real Estate Equities: The Wrong Kind of Overcrowded"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/65959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=65959"}],"version-history":[{"count":7,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/65959\/revisions"}],"predecessor-version":[{"id":65978,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/65959\/revisions\/65978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media\/65977"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=65959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=65959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=65959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}