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

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

Analysts Set New Price Targets

ARE has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, March 21st. Mizuho upped their price objective on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a research report on Wednesday, January 3rd. Wedbush reiterated an outperform rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They issued a buy rating and a $140.00 target price on the stock. Finally, JMP Securities reiterated a market outperform rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of Moderate Buy and an average price target of $137.13.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $119.52 on Wednesday. The firm’s fifty day moving average price is $122.95 and its two-hundred day moving average price is $116.97. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The firm has a market capitalization of $20.91 billion, a P/E ratio of 111.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.05. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. During the same quarter last year, the business posted $2.14 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that Alexandria Real Estate Equities will post 9.46 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Wednesday, March 27th. Alexandria Real Estate Equities’s payout ratio is presently 474.77%.

Insider Buying and Selling at Alexandria Real Estate Equities

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