Alexandria Real Estate Equities (NYSE:ARE) Releases FY24 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $9.41-9.53 for the period, compared to the consensus estimate of $9.48. Alexandria Real Estate Equities also updated its FY 2024 guidance to 9.410-9.530 EPS.

Alexandria Real Estate Equities Stock Performance

ARE traded down $2.37 during trading hours on Thursday, hitting $117.28. 1,382,762 shares of the stock were exchanged, compared to its average volume of 1,006,132. The stock has a 50-day simple moving average of $123.08 and a 200-day simple moving average of $116.99. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of 108.18, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.26.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. The business had revenue of $757.22 million for the quarter, compared to analyst estimates of $740.16 million. During the same period last year, the business posted $2.14 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts anticipate that Alexandria Real Estate Equities will post 9.46 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.33%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 474.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ARE shares. Mizuho boosted their price objective on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Wedbush reissued an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday. Evercore ISI lowered their price target on Alexandria Real Estate Equities from $137.00 to $132.00 and set an outperform rating for the company in a report on Thursday. JMP Securities restated a market outperform rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a report on Tuesday, January 30th. They set a buy rating and a $140.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $136.75.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $118.92, for a total transaction of $891,900.00. Following the transaction, the chairman now owns 429,538 shares in the company, valued at approximately $51,080,658.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Peter M. Moglia sold 3,200 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the sale, the chief executive officer now owns 249,683 shares in the company, valued at approximately $30,686,040.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joel S. Marcus sold 7,500 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $118.92, for a total value of $891,900.00. Following the sale, the chairman now owns 429,538 shares in the company, valued at approximately $51,080,658.96. The disclosure for this sale can be found here. Corporate 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.