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

Alexandria Real Estate Equities (NYSE:ARE) posted its earnings results 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. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $791.60 million for the quarter, compared to the consensus estimate of $766.97 million. During the same quarter in the prior year, the company posted $2.26 EPS. Alexandria Real Estate Equities’s revenue was up 10.9% on a year-over-year basis. 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 Stock Up 1.6 %

ARE stock opened at $119.90 on Thursday. The business’s 50-day moving average price is $119.18 and its 200-day moving average price is $118.79. The stock has a market cap of $20.97 billion, a P/E ratio of 112.06, a PEG ratio of 3.99 and a beta of 1.16. 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 has a twelve month low of $90.73 and a twelve month high of $135.45.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is 485.98%.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of research analyst reports. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $130.00 to $125.00 in a report on Friday, September 13th. JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Royal Bank of Canada reduced 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 report on Monday, August 5th. Finally, Evercore ISI lowered 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 report on Wednesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average 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.