Alexandria Real Estate Equities (NYSE:ARE) Announces Earnings Results, Misses Estimates By $2.09 EPS

Alexandria Real Estate Equities (NYSE:ARE) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09), Yahoo Finance reports. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The firm had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same quarter last year, the business posted $2.24 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Alexandria Real Estate Equities updated its FY24 guidance to $9.41-9.53 EPS and its FY 2024 guidance to 9.410-9.530 EPS.

Alexandria Real Estate Equities Trading Down 3.5 %

Alexandria Real Estate Equities stock opened at $121.41 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 113.47, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The firm’s 50 day moving average price is $119.08 and its two-hundred day moving average price is $121.09.

Alexandria Real Estate Equities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $1.30 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 28th. This represents a $5.20 annualized dividend and a yield of 4.28%. Alexandria Real Estate Equities’s payout ratio is 485.99%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARE. Evercore ISI lifted their target price on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday. Finally, Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $140.00 to $130.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and an average target price of $134.71.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the transaction, the insider now owns 6,005,077 shares in the company, valued at $25,281,374.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.15% of the stock is currently owned by company insiders.

About Alexandria Real Estate Equities

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.