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

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY24 earnings guidance on Monday morning. 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.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE opened at $119.52 on Wednesday. The company has a 50-day moving average price of $122.95 and a two-hundred day moving average price of $116.97. The firm has a market capitalization of $20.91 billion, a PE ratio of 111.70, a P/E/G ratio of 2.71 and a beta of 1.05. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. 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 (NYSE:ARE) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $757.22 million for the quarter, compared to the consensus estimate of $740.16 million. During the same period in the prior year, the business posted $2.14 EPS. Alexandria Real Estate Equities’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Alexandria Real Estate Equities will post 9.46 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Wednesday, March 27th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 474.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARE. Wedbush reaffirmed an outperform rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday. JMP Securities reiterated a market outperform rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated 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 target price on the stock. Mizuho increased their price target on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Finally, StockNews.com upgraded shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $137.13.

Insiders Place Their Bets

In related news, CEO Peter M. Moglia sold 3,200 shares of the company’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 sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Joel S. Marcus sold 7,500 shares of the firm’s 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 transaction, the chairman now directly owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter M. Moglia sold 3,200 shares of Alexandria Real Estate Equities stock in a transaction dated 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 transaction, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $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.