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

Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) released its quarterly earnings data on Monday. The real estate investment trust reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($3.71), FiscalAI reports. The company had revenue of $671.18 million for the quarter, compared to analyst estimates of $646.26 million. Alexandria Real Estate Equities had a negative return on equity of 5.21% and a negative net margin of 36.08%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.22 EPS.

Alexandria Real Estate Equities Stock Up 0.6%

Shares of NYSE ARE opened at $43.29 on Tuesday. 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 has a 52 week low of $39.41 and a 52 week high of $78.00. The firm has a 50-day moving average price of $48.90 and a 200 day moving average price of $50.01. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -7.14 and a beta of 1.16.

Alexandria Real Estate Equities Announces Dividend

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

Key Alexandria Real Estate Equities News

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

Insider Buying and Selling

In other news, CAO Andres Gavinet sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $50.93, for a total transaction of $509,300.00. Following the completion of the sale, the chief accounting officer directly owned 102,516 shares in the company, valued at approximately $5,221,139.88. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $50.51, for a total transaction of $849,073.10. Following the sale, the executive vice president owned 39,152 shares of the company’s stock, valued at approximately $1,977,567.52. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARE. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 target price on the stock. in a research report on Thursday, September 24th. Citizens Jmp reissued a “market perform” rating on shares of Alexandria Real Estate Equities in a research report on Monday, August 17th. BNP Paribas Exane decreased their price objective on shares of Alexandria Real Estate Equities from $48.00 to $40.00 and set an “underperform” rating for the company in a research note on Tuesday, September 29th. Zacks Research upgraded shares of Alexandria Real Estate Equities from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial set a $41.00 price objective on Alexandria Real Estate Equities in a report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $50.86.

Check Out Our Latest Report on ARE

Alexandria Real Estate Equities Company Profile

(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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