Wedbush Analysts Cut Earnings Estimates for Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) – Stock analysts at Wedbush lowered their Q2 2024 earnings estimates for Alexandria Real Estate Equities in a report issued on Wednesday, April 24th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $2.32 for the quarter, down from their prior forecast of $2.37. Wedbush currently has a “Outperform” rating and a $140.00 target price on the stock. The consensus estimate for Alexandria Real Estate Equities’ current full-year earnings is $9.46 per share. Wedbush also issued estimates for Alexandria Real Estate Equities’ Q3 2024 earnings at $2.40 EPS and Q4 2024 earnings at $2.40 EPS.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results 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 analysts’ expectations of $740.16 million. Alexandria Real Estate Equities had a return on equity of 0.87% and a net margin of 6.65%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research 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. Deutsche Bank Aktiengesellschaft began 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 objective for the company. Finally, Evercore ISI cut their price objective on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating for the company in a research note on Thursday. Two 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 has an average rating of “Moderate Buy” and an average price target of $136.75.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $117.28 on Friday. The company’s 50 day moving average is $123.04 and its 200-day moving average is $117.00. Alexandria Real Estate Equities has a 12-month low of $90.73 and a 12-month high of $135.45. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.54. The firm has a market cap of $20.51 billion, a P/E ratio of 109.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

Alexandria Real Estate Equities Announces Dividend

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

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 3,200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $122.90, for a total value of $393,280.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter M. Moglia sold 3,200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $122.90, for a total value of $393,280.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction dated 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 transaction, the chairman now owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.

Institutional Trading of Alexandria Real Estate Equities

Institutional investors have recently bought and sold shares of the company. Oakworth Capital Inc. purchased a new stake in Alexandria Real Estate Equities during the 4th quarter valued at about $25,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Alexandria Real Estate Equities during the 4th quarter valued at about $25,000. HHM Wealth Advisors LLC boosted its holdings in shares of Alexandria Real Estate Equities by 340.9% during the 4th quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Alexandria Real Estate Equities by 61.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 291 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 111 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities by 275.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 171 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

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.