Alexandria Real Estate Equities (NYSE:ARE) Releases FY 2024 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 9.410-9.530 for the period, compared to the consensus EPS estimate of 9.480. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.41-9.53 EPS.

Alexandria Real Estate Equities Stock Performance

NYSE ARE traded up $2.88 during trading hours on Monday, reaching $118.57. The company’s stock had a trading volume of 1,049,872 shares, compared to its average volume of 999,850. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $122.81 and a 200 day simple moving average of $116.68. Alexandria Real Estate Equities has a 52 week low of $90.73 and a 52 week high of $135.45. The stock has a market cap of $20.74 billion, a PE ratio of 218.30, a PEG ratio of 2.64 and a beta of 1.05.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($2.83). The firm had revenue of $757.22 million for the quarter, compared to analyst estimates of $740.16 million. Alexandria Real Estate Equities had a net margin of 3.59% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Equities research analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company 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 was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 4.28%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 940.76%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JMP Securities reissued a market outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They set a buy rating and a $140.00 price objective on the stock. StockNews.com raised shares of Alexandria Real Estate Equities from a sell rating to a hold rating in a research note on Thursday, March 21st. Mizuho upped their target price on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a buy rating in a research report on Wednesday, January 3rd. Finally, Wedbush reiterated an outperform rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Alexandria Real Estate Equities presently has an average rating of Moderate Buy and a consensus price target of $137.13.

Insider Activity

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