Alexandria Real Estate Equities (NYSE:ARE) Issues Quarterly Earnings Results

Alexandria Real Estate Equities (NYSE:ARE) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42), Yahoo Finance reports. The company had revenue of $791.60 million for the quarter, compared to analyst estimates of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. Alexandria Real Estate Equities updated its FY24 guidance to $9.45-9.49 EPS and its FY 2024 guidance to 9.450-9.490 EPS.

Alexandria Real Estate Equities Stock Performance

Shares of NYSE:ARE traded up $1.93 during trading on Wednesday, hitting $119.90. 1,933,239 shares of the stock traded hands, compared to its average volume of 977,298. 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 company has a fifty day moving average price of $119.18 and a two-hundred day moving average price of $118.79. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 112.06, a P/E/G ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 annualized dividend and a yield of 4.34%. Alexandria Real Estate Equities’s dividend payout ratio is presently 485.98%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a report on Wednesday. JMP Securities restated 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. Wedbush dropped their price target on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $130.00 to $125.00 in a report on Friday, September 13th. Finally, Bank of America downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $131.78.

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.