Alexandria Real Estate Equities Inc (NYSE:ARE) announced a quarterly dividend on Monday, June 4th, Zacks reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.93 per share by the real estate investment trust on Monday, July 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, June 28th. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.90.
Alexandria Real Estate Equities has raised its dividend by an average of 6.2% annually over the last three years and has increased its dividend every year for the last 7 years. Alexandria Real Estate Equities has a dividend payout ratio of 59.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alexandria Real Estate Equities to earn $6.93 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 51.9%.
Shares of ARE stock opened at $125.60 on Wednesday. Alexandria Real Estate Equities has a 1 year low of $114.00 and a 1 year high of $134.37. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.78. The firm has a market cap of $12.97 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.08 and a beta of 0.82.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, April 30th. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.27). Alexandria Real Estate Equities had a net margin of 22.13% and a return on equity of 4.26%. The business had revenue of $320.10 million for the quarter, compared to the consensus estimate of $317.63 million. During the same period in the previous year, the firm earned $1.48 EPS. The company’s revenue was up 18.2% on a year-over-year basis. sell-side analysts forecast that Alexandria Real Estate Equities will post 6.59 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on ARE shares. Zacks Investment Research downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. TheStreet raised shares of Alexandria Real Estate Equities from a “c+” rating to a “b” rating in a research report on Monday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alexandria Real Estate Equities from $130.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, May 22nd. Finally, ValuEngine downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $105.92.
In related news, insider Joel S. Marcus sold 25,000 shares of Alexandria Real Estate Equities stock in a transaction on Friday, May 4th. The shares were sold at an average price of $127.49, for a total transaction of $3,187,250.00. Following the transaction, the insider now owns 656,755 shares in the company, valued at approximately $83,729,694.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jennifer Banks sold 5,000 shares of Alexandria Real Estate Equities stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the transaction, the chief operating officer now owns 50,419 shares in the company, valued at approximately $6,554,470. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,917 shares of company stock worth $11,895,153. 1.41% of the stock is owned by corporate insiders.
Alexandria Real Estate Equities Company Profile
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500® company, is an urban office real estate investment trust ("REIT") uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $17.9 billion and an asset base in North America of 30.2 million SF as of March 31, 2018.
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