Brokers Offer Predictions for Alexandria Real Estate Equities, Inc.’s Q2 2024 Earnings (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) – Equities research analysts at Wedbush dropped their Q2 2024 EPS estimates for shares of Alexandria Real Estate Equities in a note issued to investors on Wednesday, April 24th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $2.32 per share for the quarter, down from their previous estimate of $2.37. Wedbush currently has a “Outperform” rating and a $140.00 target price on the stock. The consensus estimate for Alexandria Real Estate Equities’ current full-year earnings is $9.46 per share. Wedbush also issued estimates for Alexandria Real Estate Equities’ Q3 2024 earnings at $2.40 EPS and Q4 2024 earnings at $2.40 EPS.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) EPS for the quarter, missing the consensus estimate of $2.29 by ($2.83). The firm had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. Alexandria Real Estate Equities’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 earnings per share.

Several other brokerages have also issued reports on ARE. StockNews.com raised shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft assumed 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 target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Evercore ISI decreased their price target on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Mizuho lifted their price target on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.75.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE opened at $116.23 on Friday. The firm has a 50 day moving average of $122.98 and a 200-day moving average of $117.10. The stock has a market capitalization of $20.33 billion, a PE ratio of 108.63, a PEG ratio of 2.74 and a beta of 1.05. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 0.54. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45.

Alexandria Real Estate Equities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Wednesday, March 27th. Alexandria Real Estate Equities’s payout ratio is 474.77%.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, CEO Peter M. Moglia sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Joel S. Marcus sold 7,500 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the sale, the chairman now directly owns 429,538 shares of the company’s stock, valued at approximately $51,080,658.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Peter M. Moglia sold 3,200 shares of the company’s stock in a transaction on 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 directly owns 249,683 shares in the company, valued at $30,686,040.70. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Alexandria Real Estate Equities

A number of institutional investors have recently modified their holdings of the company. Pinnacle Associates Ltd. bought a new stake in shares of Alexandria Real Estate Equities in the 1st quarter valued at $284,000. Prestige Wealth Management Group LLC lifted its position in shares of Alexandria Real Estate Equities by 8,671.4% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,842 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 1,821 shares during the period. Carmel Capital Partners LLC lifted its position in shares of Alexandria Real Estate Equities by 8.5% during the 1st quarter. Carmel Capital Partners LLC now owns 3,082 shares of the real estate investment trust’s stock valued at $397,000 after acquiring an additional 241 shares during the period. Advocate Group LLC lifted its position in shares of Alexandria Real Estate Equities by 423.3% during the 1st quarter. Advocate Group LLC now owns 18,420 shares of the real estate investment trust’s stock valued at $2,375,000 after acquiring an additional 14,900 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Alexandria Real Estate Equities by 1.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,768 shares of the real estate investment trust’s stock valued at $4,611,000 after acquiring an additional 500 shares during the period. 96.54% of the stock is owned by institutional investors.

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.