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 EPS guidance of $9.41-9.53 for the period, compared to the consensus EPS estimate of $9.48. Alexandria Real Estate Equities also updated its FY 2024 guidance to 9.410-9.530 EPS.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE ARE opened at $118.60 on Tuesday. 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 firm has a market cap of $20.75 billion, a price-to-earnings ratio of 219.63, a P/E/G ratio of 2.64 and a beta of 1.05. The business’s 50-day simple moving average is $122.82 and its 200-day simple moving average is $116.82. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). Alexandria Real Estate Equities had a net margin of 3.59% and a return on equity of 0.46%. The company had revenue of $757.22 million for the quarter, compared to analyst estimates of $740.16 million. During the same period in the prior year, the company posted $2.14 EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 4.28%. Alexandria Real Estate Equities’s payout ratio is 940.76%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARE. StockNews.com upgraded Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Mizuho increased their target price on 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. Wedbush restated an outperform rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They issued a buy rating and a $140.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $137.13.

Insider Transactions at Alexandria Real Estate Equities

In other news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was 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 legal filing with the SEC, which is available at this link. In related news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joel S. Marcus sold 7,500 shares of the firm’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 directly owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.

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.