UPDATE: International Strategy & Investment Maintains Hold Rating, Raises PT for Alexandria Real Estate

In a report issued earlier today, International Strategy & Investment Group LLC maintained its Hold rating for Alexandria Real Estate Equities Inc.

and slightly raised its price target from $78.00 to $79.00. ISI said in its report “ARE has done a good job on the balance sheet over the past 6 months, terming out the average debt maturity (5.3yrs today vs. 3.9yrs at 3Q11) and fixing more of the debt (floating rate debt declined from 54% of total debt to 11% today) which greatly improves one of the sticking points with investors. We would like to see the company become a more active capital recycler to bring down leverage and help fund development/redevelopment spending which the company has talked about for several quarters.” Alexandria Real Estate Equities Inc. closed yesterday at $75.64.