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

Alexandria Real Estate Equities (NYSE:AREGet Free Report) 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 1.7 %

Alexandria Real Estate Equities stock traded down $2.04 during midday trading on Wednesday, hitting $117.45. 170,791 shares of the stock were exchanged, compared to its average volume of 991,734. 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 stock has a market capitalization of $20.55 billion, a price-to-earnings ratio of 111.70, a price-to-earnings-growth ratio of 2.71 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. The business’s 50-day moving average price is $122.95 and its 200-day moving average price is $116.97.

Alexandria Real Estate Equities (NYSE:AREGet Free Report) last released 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). Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. The company had revenue of $757.22 million during the quarter, compared to analysts’ expectations of $740.16 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Alexandria Real Estate Equities will post 9.46 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

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

Wall Street Analysts Forecast Growth

ARE has been the topic of a number of analyst reports. StockNews.com raised shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a report on Thursday, March 21st. JMP Securities reissued a market 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 boosted their price target 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. 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They issued a buy rating and a $140.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $137.13.

View Our Latest Stock Report on ARE

Insider Activity

In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 3,200 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 3,200 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joel S. Marcus sold 7,500 shares of the 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 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. 1.15% of the stock is owned by corporate insiders.

About Alexandria Real Estate Equities

(Get Free Report)

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.

See Also

Earnings History and Estimates for Alexandria Real Estate Equities (NYSE:ARE)

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