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

Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 9.450-9.490 for the period, compared to the consensus EPS 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

ARE has been the subject of several analyst reports. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Bank of America cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $151.00 to $126.00 in a report on Monday, July 29th. Citigroup lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $125.00 in a report on Friday, September 13th. Jefferies Financial Group cut shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price target for the company from $136.00 to $127.00 in a research report on Friday, August 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $133.22.

Alexandria Real Estate Equities Stock Down 1.9 %

Shares of NYSE:ARE opened at $119.52 on Tuesday. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 111.70, a PEG ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The firm’s 50-day simple moving average is $118.96 and its 200-day simple moving average is $118.83. 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 issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. During the same quarter in the previous year, the firm posted $2.24 earnings per share. Alexandria Real Estate Equities’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts predict 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 Tuesday, October 15th. Shareholders 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 yield of 4.35%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 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.