Alexandria Real Estate Equities (NYSE:ARE) Posts Quarterly Earnings Results, Misses Estimates By $2.09 EPS

Alexandria Real Estate Equities (NYSE:ARE) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09), Yahoo Finance reports. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The firm had revenue of $766.70 million during the quarter, compared to analyst estimates of $775.03 million. During the same quarter in the prior year, the firm earned $2.24 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Alexandria Real Estate Equities updated its FY24 guidance to $9.41-9.53 EPS and its FY 2024 guidance to 9.410-9.530 EPS.

Alexandria Real Estate Equities Price Performance

NYSE:ARE opened at $115.57 on Thursday. The company has a 50-day moving average of $118.89 and a 200-day moving average of $121.05. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of 108.01, a PEG ratio of 3.04 and a beta of 1.15. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.30 and a current ratio of 0.30.

Alexandria Real Estate Equities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.50%. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 28th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ARE shares. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Tuesday. Evercore ISI downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to an “inline” rating and reduced their price target for the company from $133.00 to $126.00 in a research report on Thursday. Finally, Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $130.00 in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Alexandria Real Estate Equities currently has an average rating of “Moderate Buy” and an average price target of $133.71.

Insider Transactions at Alexandria Real Estate Equities

In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the sale, the insider now owns 6,005,077 shares in the company, valued at approximately $25,281,374.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is owned by insiders.

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.