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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 9.410-9.530 for the period, compared to the consensus EPS 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 Price Performance

Shares of ARE stock traded up $2.91 during trading on Monday, hitting $118.60. The company had a trading volume of 1,049,914 shares, compared to its average volume of 999,850. The firm has a market capitalization of $20.75 billion, a P/E ratio of 218.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.26. The stock’s 50-day moving average price is $122.81 and its 200 day moving average price is $116.68.

Alexandria Real Estate Equities (NYSE:ARE) 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). The company had revenue of $757.22 million for the quarter, compared to the consensus estimate of $740.16 million. Alexandria Real Estate Equities had a net margin of 3.59% and a return on equity of 0.46%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. Equities analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Wednesday, March 27th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 940.76%.

Wall Street Analysts Forecast Growth

ARE has been the subject of several research analyst reports. Mizuho boosted their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on Alexandria Real Estate Equities in a report on Tuesday, January 30th. They set a buy rating and a $140.00 price target for the company. StockNews.com raised Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Wedbush reissued an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Finally, JMP Securities reiterated a market outperform rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. 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, the company currently has a consensus rating of Moderate Buy and an average price target of $137.13.

Insider Buying and Selling at Alexandria Real Estate Equities

In related news, Chairman Joel S. Marcus sold 7,500 shares of the business’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 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 legal filing with the SEC, which is accessible through the SEC website. In other 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 sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities 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 transaction, 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.