Zacks: Brokerages Anticipate Alexandria Real Estate Equities Inc (ARE) Will Announce Quarterly Sales of $318.95 Million

Wall Street brokerages expect Alexandria Real Estate Equities Inc (NYSE:ARE) to report sales of $318.95 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Alexandria Real Estate Equities’ earnings, with the lowest sales estimate coming in at $318.70 million and the highest estimate coming in at $319.20 million. Alexandria Real Estate Equities posted sales of $270.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.7%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, April 30th.

On average, analysts expect that Alexandria Real Estate Equities will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.33 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.42 billion per share, with estimates ranging from $1.40 billion to $1.43 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Alexandria Real Estate Equities.

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Alexandria Real Estate Equities (NYSE:ARE) last posted its earnings results on Monday, January 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($1.16). The business had revenue of $298.79 million for the quarter, compared to analyst estimates of $293.63 million. Alexandria Real Estate Equities had a return on equity of 3.08% and a net margin of 14.77%. Alexandria Real Estate Equities’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS.

Several research firms have issued reports on ARE. ValuEngine raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. TheStreet cut Alexandria Real Estate Equities from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. Barclays lifted their price objective on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Alexandria Real Estate Equities in a research note on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Alexandria Real Estate Equities has a consensus rating of “Buy” and a consensus price target of $102.34.

In related news, Director James P. Cain sold 618 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $123.57, for a total transaction of $76,366.26. Following the completion of the transaction, the director now directly owns 3,490 shares of the company’s stock, valued at approximately $431,259.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joel S. Marcus sold 30,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $125.37, for a total value of $3,761,100.00. Following the transaction, the chief executive officer now directly owns 671,358 shares of the company’s stock, valued at $84,168,152.46. The disclosure for this sale can be found here. Insiders sold 71,618 shares of company stock valued at $8,935,609 over the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. We Are One Seven LLC acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth $148,000. IFM Investors Pty Ltd acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth $200,000. First Allied Advisory Services Inc. acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth $203,000. V Wealth Management LLC acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth $212,000. Finally, Conning Inc. acquired a new position in Alexandria Real Estate Equities during the 4th quarter worth $225,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

ARE stock traded down $2.25 during midday trading on Friday, hitting $122.06. 356,197 shares of the company’s stock were exchanged, compared to its average volume of 693,954. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The stock has a market cap of $12,578.93, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.80. Alexandria Real Estate Equities has a 1-year low of $111.59 and a 1-year high of $134.37.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.95%. Alexandria Real Estate Equities’s payout ratio is presently 59.80%.

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About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.

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