Alexandria Real Estate Equities (NYSE:ARE) Posts Earnings Results, Misses Estimates By $1.42 EPS

Alexandria Real Estate Equities (NYSE:ARE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42), 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 $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the firm posted $2.26 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. Alexandria Real Estate Equities updated its FY24 guidance to $9.45-9.49 EPS and its FY 2024 guidance to 9.450-9.490 EPS.

Alexandria Real Estate Equities Trading Down 1.9 %

NYSE:ARE opened at $119.52 on Tuesday. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $20.90 billion, a P/E ratio of 111.70, a P/E/G ratio of 3.99 and a beta of 1.16. The firm has a 50-day simple moving average of $118.96 and a 200-day simple moving average of $118.83.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.35%. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $151.00 to $126.00 in a research report on Monday, July 29th. Royal Bank of Canada lowered their price objective on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Evercore ISI boosted their price objective on shares of Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Finally, JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.22.

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.