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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $9.41-9.53 for the period, compared to the consensus estimate of $9.48. Alexandria Real Estate Equities also updated its FY 2024 guidance to 9.410-9.530 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an outperform rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. Mizuho lifted 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 research note on Wednesday, January 3rd. StockNews.com raised shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They set a buy rating and a $140.00 target price on the stock. Finally, JMP Securities reaffirmed a market outperform rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities has an average rating of Moderate Buy and an average target price of $137.13.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $118.60 on Tuesday. The stock has a 50 day moving average price of $122.82 and a 200 day moving average price of $116.82. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 219.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). Alexandria Real Estate Equities had a net margin of 3.59% and a return on equity of 0.46%. The business had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. During the same period last year, the company earned $2.14 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, March 27th. Alexandria Real Estate Equities’s dividend payout ratio is presently 940.76%.

Insider Buying and Selling

In related news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of the sale, the chairman now directly owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which is available through 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 completion of the sale, the chief executive officer now owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 of the company’s stock, 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.

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.