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

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY24 earnings guidance on Monday morning. 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 Price Performance

NYSE ARE traded down $2.14 during mid-day trading on Monday, hitting $119.65. The stock had a trading volume of 1,518,507 shares, compared to its average volume of 965,423. The firm’s 50 day moving average is $118.80 and its 200 day moving average is $118.85. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $20.92 billion, a price-to-earnings ratio of 113.82, a PEG ratio of 3.99 and a beta of 1.16.

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

Alexandria Real Estate Equities Dividend Announcement

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 $1.30 dividend. 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 is currently 485.98%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ARE shares. Royal Bank of Canada cut their target price on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Jefferies Financial Group downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their target price for the stock from $136.00 to $127.00 in a research note on Friday, August 2nd. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Evercore ISI increased their price target on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average 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.