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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 9.450-9.490 for the period, compared to the consensus earnings per share estimate of 9.470. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.45-9.49 EPS.

Alexandria Real Estate Equities Trading Down 1.9 %

NYSE:ARE traded down $2.27 during trading hours on Monday, hitting $119.52. The stock had a trading volume of 1,803,952 shares, compared to its average volume of 966,829. The business’s 50 day moving average is $118.80 and its 200-day moving average is $118.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 113.82, a P/E/G ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45.

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

Alexandria Real Estate Equities Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI boosted their price objective on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Finally, Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $133.22.

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.