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

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

Analyst Ratings Changes

Several brokerages recently weighed in on ARE. Bank of America downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped 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 report on Monday, August 5th. Citigroup downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Finally, Jefferies Financial Group downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and decreased their price objective for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $133.22.

Alexandria Real Estate Equities Trading Down 1.9 %

Shares of Alexandria Real Estate Equities stock opened at $119.52 on Tuesday. 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 200 day simple moving average of $118.83. Alexandria Real Estate Equities has a 12-month low of $90.73 and a 12-month high of $135.45. The company has a market capitalization of $20.90 billion, a P/E ratio of 111.70, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The company had revenue of $766.70 million for the quarter, compared to the consensus estimate of $775.03 million. During the same quarter last year, the business posted $2.24 earnings per share. Alexandria Real Estate Equities’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.35%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 485.98%.

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.