Alexandria Real Estate Equities, Inc. to Issue Quarterly Dividend of $1.32 (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) declared a quarterly dividend on Monday, March 3rd, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 1.32 per share by the real estate investment trust on Tuesday, April 15th. This represents a $5.28 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Monday, March 31st.

Alexandria Real Estate Equities has increased its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend every year for the last 15 years. Alexandria Real Estate Equities has a payout ratio of 128.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexandria Real Estate Equities to earn $9.62 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 54.9%.

Alexandria Real Estate Equities Stock Down 0.9 %

Shares of Alexandria Real Estate Equities stock opened at $100.63 on Wednesday. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 3.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. Alexandria Real Estate Equities has a 1 year low of $93.25 and a 1 year high of $130.14. The company has a 50-day moving average of $97.97 and a 200 day moving average of $108.16.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. As a group, sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.32 earnings per share for the current fiscal year.

Alexandria Real Estate Equities announced that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

ARE has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $130.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered shares of Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $133.00 to $121.00 in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reduced their price target on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research note on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.30.

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.