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 earnings per share guidance of 9.410-9.530 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com raised Alexandria Real Estate Equities from a sell rating to a hold rating in a research report 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 research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They issued a buy rating and a $140.00 target price for the company. JMP Securities reaffirmed a market outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. Finally, Mizuho upped 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $137.13.

Alexandria Real Estate Equities Trading Up 2.5 %

Shares of NYSE:ARE opened at $118.60 on Tuesday. The stock has a 50 day moving average of $122.82 and a 200 day moving average of $116.82. The company has a market cap of $20.75 billion, a PE ratio of 219.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. Alexandria Real Estate Equities has a 12-month low of $90.73 and a 12-month high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) 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 company’s revenue 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. As a group, equities research analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed 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 was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.28%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 940.76%.

Insider Activity at Alexandria Real Estate Equities

In related news, CEO Peter M. Moglia sold 3,200 shares of the business’s stock in a transaction that occurred 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 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 filing with the SEC, which is available at this hyperlink. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the company’s 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 in the company, valued at approximately $51,080,658.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter M. Moglia sold 3,200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

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.