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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $9.45-9.49 for the period, compared to the consensus EPS estimate of $9.47.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Evercore ISI lifted their price target on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price target for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Royal Bank of Canada cut their price target on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $133.22.

Alexandria Real Estate Equities Price Performance

ARE stock traded down $2.14 on Monday, reaching $119.65. 1,518,507 shares of the company’s stock were exchanged, compared to its average volume of 965,423. The stock has a fifty day moving average of $118.80 and a 200-day moving average of $118.85. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The firm has a market cap of $20.92 billion, a PE ratio of 113.82, a P/E/G ratio of 3.99 and a beta of 1.16. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($2.09). The firm had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $2.24 EPS. As a group, equities analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is 485.98%.

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.