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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $9.41-9.53 for the period, compared to the consensus earnings per share estimate of $9.48. Alexandria Real Estate Equities also updated its FY 2024 guidance to 9.410-9.530 EPS.

Analysts Set New Price Targets

Several research firms recently weighed in on ARE. Evercore ISI cut their price target on Alexandria Real Estate Equities from $137.00 to $132.00 and set an outperform rating on the stock in a research note on Thursday. JMP Securities restated a market outperform rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. StockNews.com upgraded Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Mizuho upped their price target on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a research note on Tuesday, January 30th. They issued a buy rating and a $140.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $136.75.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE traded down $2.37 during trading on Thursday, reaching $117.28. 1,382,762 shares of the company’s stock traded hands, compared to its average volume of 1,006,132. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.54. The firm has a market cap of $20.51 billion, a PE ratio of 108.18, a P/E/G ratio of 2.73 and a beta of 1.05. The company has a 50-day simple moving average of $123.08 and a 200-day simple moving average of $116.99.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The business had revenue of $757.22 million during the quarter, compared to analysts’ expectations of $740.16 million. Alexandria Real Estate Equities had a return on equity of 0.87% and a net margin of 6.65%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $2.14 earnings per share. As a group, analysts predict that Alexandria Real Estate Equities will post 9.46 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 4.33%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 474.77%.

Insider Activity

In other news, Chairman Joel S. Marcus sold 7,500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the transaction, the chairman now directly owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the transaction, the chairman now owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter M. Moglia sold 3,200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the completion of the sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

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.