Alexandria Real Estate Equities (NYSE:ARE) Releases FY24 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $9.45-9.49 for the period, compared to the consensus estimate of $9.47. Alexandria Real Estate Equities also updated its FY 2024 guidance to 9.450-9.490 EPS.

Alexandria Real Estate Equities Stock Performance

ARE stock opened at $117.97 on Wednesday. The firm has a market cap of $20.63 billion, a price-to-earnings ratio of 110.25, a PEG ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month 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. The business’s fifty day simple moving average is $119.05 and its two-hundred day simple moving average is $118.78.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). The company had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 EPS. Analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.30 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.41%. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Bank of America downgraded shares of 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. Evercore ISI upped their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their price objective on Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average price target 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.