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

Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) posted its quarterly earnings results on Monday. The real estate investment trust reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $1.57, Zacks reports. Alexandria Real Estate Equities had a negative net margin of 36.08% and a negative return on equity of 5.21%. The business had revenue of $671.18 million for the quarter, compared to analysts’ expectations of $646.26 million. During the same period in the prior year, the company posted $2.22 EPS. The business’s revenue for the quarter was down 10.7% on a year-over-year basis.

Alexandria Real Estate Equities Trading Up 0.6%

Shares of ARE stock opened at $43.29 on Tuesday. Alexandria Real Estate Equities has a fifty-two week low of $39.41 and a fifty-two week high of $78.00. The stock has a market cap of $7.54 billion, a P/E ratio of -7.14 and a beta of 1.16. The business has a fifty day simple moving average of $48.90 and a 200-day simple moving average of $50.01. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.67.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.72 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.7%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently -47.52%.

Analysts Set New Price Targets

Several analysts recently commented on ARE shares. Citigroup raised their price objective on shares of Alexandria Real Estate Equities from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Zacks Research raised shares of Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Robert W. Baird upped their target price on shares of Alexandria Real Estate Equities from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Evercore reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Alexandria Real Estate Equities in a report on Monday, September 21st. Finally, JPMorgan Chase & Co. cut shares of Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 target price for the company. in a report on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $50.86.

Read Our Latest Stock Report on Alexandria Real Estate Equities

Insider Transactions at Alexandria Real Estate Equities

In related news, CAO Andres Gavinet sold 10,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $50.93, for a total value of $509,300.00. Following the sale, the chief accounting officer directly owned 102,516 shares in the company, valued at $5,221,139.88. The trade was a 8.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.51, for a total transaction of $849,073.10. Following the completion of the sale, the executive vice president directly owned 39,152 shares in the company, valued at approximately $1,977,567.52. The trade was a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.35% of the company’s stock.

Key Alexandria Real Estate Equities News

Here are the key news stories impacting Alexandria Real Estate Equities this week:

About Alexandria Real Estate Equities

(Get Free Report)

Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.

The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.

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Earnings History for Alexandria Real Estate Equities (NYSE:ARE)

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