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

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 9.450-9.490 for the period, compared to the consensus earnings per share estimate of 9.470. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.45-9.49 EPS.

Alexandria Real Estate Equities Price Performance

ARE traded down $2.27 during midday trading on Monday, reaching $119.52. 1,803,952 shares of the company’s stock were exchanged, compared to its average volume of 966,829. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $118.80 and a two-hundred day simple moving average of $118.85. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 113.82, a price-to-earnings-growth 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.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly 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). The company had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 EPS. As a group, research analysts predict that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARE. Royal Bank of Canada reduced their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $151.00 to $126.00 in a research note on Monday, July 29th. JMP Securities reiterated a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Finally, Wedbush lowered shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $130.00 in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $133.22.

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.