2023-03-29 09:41:00 ET
Shares of real estate investment trusts ( REITs ) have gotten hammered over the past year because of the surge in interest rates. However, according to Wall Street analysts who follow the sector, many have fallen much further than they should.
Four that stand out to analysts for their upside potential are Alexandria Real Estate Equities (NYSE: ARE) , American Tower (NYSE: AMT) , Community Healthcare Trust (NYSE: CHCT) , and VICI Properties (NYSE: VICI) . Here's why dividend investors will want to look closely at this group.
Shares of Alexandria Real Estate Equities have plunged more than 40% from their 52-week high. That has the office REIT focused on laboratory space trading at around $119 per share. According to analysts polled by FactSet , this price point is 47% below their consensus price target of more than $174 a share. A couple of analysts recently raised their price target on Alexandria's stock, including those from Mizho (from $178 to $180) and Baird (from $162 to $174). They noted that many of the company's headwinds should ease, leading them to believe shares should start recovering.
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These 4 Top Dividend Stocks Have 22% to 47% Upside Potential, According to Wall Street