Alexandria Real Estate Equities, Inc. (NYSE:ARE) to Issue $1.32 Quarterly Dividend

Alexandria Real Estate Equities, Inc. (NYSE:ARE) announced a quarterly dividend on Monday, June 2nd, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 1.32 per share by the real estate investment trust on Tuesday, July 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date of this dividend is Monday, June 30th.

Alexandria Real Estate Equities has raised its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Alexandria Real Estate Equities has a dividend payout ratio of 229.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alexandria Real Estate Equities to earn $9.62 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 54.9%.

Alexandria Real Estate Equities Stock Up 0.9%

Shares of NYSE:ARE opened at $70.26 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. The company’s fifty day moving average is $75.89 and its two-hundred day moving average is $91.66. Alexandria Real Estate Equities has a 1-year low of $67.37 and a 1-year high of $130.14. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 3.93 and a beta of 1.27.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.02. The business had revenue of $758.16 million during the quarter, compared to analysts’ expectations of $755.64 million. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $2.35 earnings per share. Equities analysts anticipate that Alexandria Real Estate Equities will post 9.32 EPS for the current year.

Hedge Funds Weigh In On Alexandria Real Estate Equities

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in Alexandria Real Estate Equities by 4,261.1% in the first quarter. NewEdge Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 3,068 shares during the period. Empowered Funds LLC boosted its stake in shares of Alexandria Real Estate Equities by 4.8% in the 1st quarter. Empowered Funds LLC now owns 6,455 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 296 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Alexandria Real Estate Equities by 171.5% in the 1st quarter. Focus Partners Wealth now owns 6,591 shares of the real estate investment trust’s stock worth $610,000 after purchasing an additional 4,163 shares during the last quarter. Woodline Partners LP increased its position in shares of Alexandria Real Estate Equities by 39.9% during the 1st quarter. Woodline Partners LP now owns 13,015 shares of the real estate investment trust’s stock worth $1,204,000 after purchasing an additional 3,714 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alexandria Real Estate Equities by 102.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,245 shares of the real estate investment trust’s stock valued at $2,184,000 after purchasing an additional 11,762 shares during the last quarter. 96.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ARE. Wall Street Zen raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their target price on Alexandria Real Estate Equities from $117.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 20th. Jefferies Financial Group began coverage on shares of Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, April 30th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and a consensus target price of $116.00.

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.