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

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 9.410-9.530 for the period, compared to the consensus 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.

Alexandria Real Estate Equities Stock Down 2.0 %

Shares of NYSE ARE traded down $2.37 on Thursday, reaching $117.28. 1,382,762 shares of the company’s stock traded hands, compared to its average volume of 1,006,132. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. The business’s 50 day simple moving average is $123.08 and its two-hundred day simple moving average is $116.99. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 109.61, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.54.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The business had revenue of $757.22 million for the quarter, compared to the consensus estimate of $740.16 million. Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. Alexandria Real Estate Equities’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 EPS. As a group, equities research analysts forecast that Alexandria Real Estate Equities will post 9.46 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARE. Evercore ISI reduced their price target on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an outperform rating for the company in a research report on Thursday. JMP Securities restated a market outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Mizuho raised their target price on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a report on Wednesday, January 3rd. StockNews.com upgraded shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Alexandria Real Estate Equities in a report on Tuesday, January 30th. They issued a buy rating and a $140.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of Moderate Buy and an average price target of $136.75.

Insider Activity

In other news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the sale, the chief executive officer now directly owns 249,683 shares in the company, valued at approximately $30,686,040.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the sale, the chief executive officer now directly owns 249,683 shares in the company, valued at approximately $30,686,040.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $891,900.00. Following the sale, the chairman now owns 429,538 shares in the company, valued at $51,080,658.96. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

About Alexandria Real Estate Equities

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.