Alexandria Real Estate Equities (NYSE:ARE) Issues Quarterly Earnings Results

Alexandria Real Estate Equities (NYSE:ARE) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($2.09), Yahoo Finance reports. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same quarter last year, the company posted $2.24 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. 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 Stock Down 3.5 %

Shares of NYSE ARE opened at $121.41 on Wednesday. The firm has a market cap of $21.23 billion, a PE ratio of 113.47, a P/E/G ratio of 3.15 and a beta of 1.15. Alexandria Real Estate Equities has a 12-month low of $90.73 and a 12-month high of $135.45. The company’s fifty day simple moving average is $119.08 and its 200 day simple moving average is $121.09. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.54.

Alexandria Real Estate Equities Increases Dividend

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

Wall Street Analysts Forecast Growth

ARE has been the topic of a number of analyst reports. Evercore ISI upped their price objective on shares of 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. Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $130.00 in a research note on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Alexandria Real Estate Equities has an average rating of “Moderate Buy” and an average price target of $134.71.

Insider Buying and Selling

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the transaction, the insider now directly owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.15% of the stock is owned by 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.