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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 9.450-9.490 for the period, compared to the consensus earnings per share estimate of 9.470. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.45-9.49 EPS.

Analyst Ratings Changes

A number of brokerages have issued reports on ARE. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Wedbush lowered Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $151.00 to $126.00 in a research note on Monday, July 29th. BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI raised their price objective on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Alexandria Real Estate Equities presently has an average rating of “Hold” and a consensus price target of $133.22.

Alexandria Real Estate Equities Stock Down 1.9 %

Shares of ARE traded down $2.27 during mid-day trading on Monday, reaching $119.52. The company’s stock had a trading volume of 1,803,263 shares, compared to its average volume of 966,826. The business has a fifty day moving average of $118.80 and a 200 day moving average of $118.85. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 113.82, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($2.09). The business had revenue of $766.70 million during the quarter, compared to analysts’ expectations of $775.03 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.24 EPS. As a group, analysts forecast that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. Alexandria Real Estate Equities’s payout ratio is currently 485.98%.

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.