Alexandria Real Estate Equities (NYSE:ARE) Issues FY 2024 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 9.410-9.530 for the period, compared to the consensus EPS estimate of 9.480. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.41-9.53 EPS.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARE. Wedbush restated an outperform rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday. Mizuho upped their price objective on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. Evercore ISI dropped their price objective on Alexandria Real Estate Equities from $137.00 to $132.00 and set an outperform rating on the stock in a research note on Thursday. StockNews.com upgraded Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They issued a buy rating and a $140.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $136.75.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE traded down $2.37 during trading hours on Thursday, reaching $117.28. 1,382,762 shares of the stock were exchanged, compared to its average volume of 1,006,132. The stock’s fifty day simple moving average is $123.08 and its 200 day simple moving average is $116.99. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.26 and a current ratio of 0.30. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 109.61, a P/E/G ratio of 2.73 and a beta of 1.05.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings data 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 return on equity of 0.87% and a net margin of 6.65%. The company had revenue of $757.22 million for the quarter, compared to the consensus estimate of $740.16 million. During the same quarter last year, the business earned $2.14 EPS. Alexandria Real Estate Equities’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Alexandria Real Estate Equities will post 9.46 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

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

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 value of $891,900.00. Following the sale, the chairman now owns 429,538 shares of the company’s stock, valued at approximately $51,080,658.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $122.90, for a total value of $393,280.00. Following the sale, the chief executive officer now owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the completion of the sale, the chairman now directly 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.