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

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

Alexandria Real Estate Equities Price Performance

NYSE ARE opened at $119.90 on Thursday. The stock has a market capitalization of $20.97 billion, a P/E ratio of 112.06, a P/E/G ratio of 3.99 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The business’s fifty day moving average is $119.18 and its two-hundred day moving average is $118.79. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The firm had revenue of $791.60 million during the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. During the same period last year, the business earned $2.26 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. On average, research analysts forecast that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal 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 given 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 4.34%. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARE. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Jefferies Financial Group downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their target price for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. Bank of America lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. Evercore ISI decreased their target price on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets raised Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities presently has a consensus rating of “Hold” and a consensus price target of $131.78.

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.