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 (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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They issued a buy rating and a $140.00 price target on the stock. Mizuho increased their target price on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Wedbush reiterated an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday. Finally, JMP Securities reiterated a market outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of Moderate Buy and a consensus price target of $137.13.

Alexandria Real Estate Equities Price Performance

ARE traded down $2.04 during midday trading on Wednesday, reaching $117.45. 170,791 shares of the company’s stock were exchanged, compared to its average volume of 991,734. The firm 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. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The business has a 50-day simple moving average of $122.95 and a two-hundred day simple moving average of $116.97.

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

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 4.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Alexandria Real Estate Equities’s payout ratio is 474.77%.

Insider Transactions at Alexandria Real Estate Equities

In related news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s stock in a transaction that occurred 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 owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Joel S. Marcus sold 7,500 shares of the company’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 transaction, the chairman now directly owns 429,538 shares of the company’s stock, valued at approximately $51,080,658.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter M. Moglia sold 3,200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the transaction, the chief executive officer now owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The disclosure for this sale can be found here. Company 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.