Alexandria Real Estate Equities (NYSE:ARE) Releases FY 2024 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 9.410-9.530 for the period, compared to the consensus estimate of 9.480. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.41-9.53 EPS.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE traded up $0.63 on Monday, hitting $125.84. The stock had a trading volume of 931,071 shares, compared to its average volume of 907,856. The firm’s 50 day moving average price is $119.03 and its 200-day moving average price is $121.12. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 117.12, a price-to-earnings-growth ratio of 3.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45.

Alexandria Real Estate Equities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.30 per share. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.20 annualized dividend and a yield of 4.13%. Alexandria Real Estate Equities’s dividend payout ratio is 485.99%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an outperform rating in a research report on Tuesday, July 16th. Wedbush reiterated an outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities currently has an average rating of Moderate Buy and a consensus target price of $136.14.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares of the company’s stock, valued at approximately $25,281,374.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.15% of the company’s stock.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.