Alexandria Real Estate Equities (NYSE:ARE) Issues Earnings Results

Alexandria Real Estate Equities (NYSE:ARE) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($1.42), Yahoo Finance reports. The company had revenue of $791.60 million during 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%. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. 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 Price Performance

Shares of ARE stock opened at $117.00 on Tuesday. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $118.96 and a two-hundred day simple moving average of $118.83. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 111.70, a P/E/G ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 annualized dividend and a yield of 4.44%. Alexandria Real Estate Equities’s payout ratio is currently 485.98%.

Analysts Set New Price Targets

ARE has been the subject of a number of analyst reports. Bank of America downgraded 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 research report on Monday, July 29th. Wedbush cut shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and cut their price target for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Royal Bank of Canada decreased 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 note on Monday, August 5th. Finally, BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $133.22.

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.