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

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 9.410-9.530 for the period, compared to the consensus earnings per share 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 Up 2.5 %

Shares of NYSE ARE opened at $118.60 on Tuesday. The company has a market capitalization of $20.75 billion, a P/E ratio of 219.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. 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 0.50, a quick ratio of 0.26 and a current ratio of 0.26. The company’s 50 day moving average price is $122.82 and its 200-day moving average price is $116.82.

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 analysts’ consensus estimates of $2.29 by ($2.83). Alexandria Real Estate Equities had a return on equity of 0.46% and a net margin of 3.59%. The firm had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. During the same quarter last year, the firm posted $2.14 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts forecast that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.28%. Alexandria Real Estate Equities’s payout ratio is presently 940.76%.

Analyst Ratings Changes

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

Insider Activity

In other news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the completion of the sale, the chairman now owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the completion of the sale, the chairman now owns 429,538 shares in the company, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

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.