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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $9.45-9.49 for the period, compared to the consensus estimate of $9.47.

Alexandria Real Estate Equities Stock Down 1.9 %

Shares of ARE stock traded down $2.27 during trading hours on Monday, hitting $119.52. 1,803,263 shares of the company were exchanged, compared to its average volume of 966,826. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 113.82, a P/E/G ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The business’s 50-day simple moving average is $118.80 and its two-hundred day simple moving average is $118.85.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The firm had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same quarter in the previous year, the business posted $2.24 EPS. Alexandria Real Estate Equities’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.35%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ARE shares. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their target price for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Evercore ISI upped their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Wedbush lowered Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $130.00 in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and a consensus target price of $133.22.

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.