Wedbush Analysts Cut Earnings Estimates for Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) – Stock analysts at Wedbush decreased their Q2 2024 earnings per share (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 earn $2.32 per share for the quarter, down from their previous forecast 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 posted its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($2.83). Alexandria Real Estate Equities had a return on equity of 0.87% and a net margin of 6.65%. The firm had revenue of $757.22 million for the quarter, compared to analyst estimates of $740.16 million. During the same period in the previous year, the company posted $2.14 EPS. Alexandria Real Estate Equities’s revenue was up 13.0% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on 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. Mizuho increased their price objective on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Evercore ISI dropped their price objective on Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com upgraded Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $140.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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 $117.28 on Friday. The stock’s 50-day moving average is $123.04 and its two-hundred day moving average is $117.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.26. Alexandria Real Estate Equities has a 1-year low of $90.73 and a 1-year high of $135.45. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 109.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

Institutional Trading of Alexandria Real Estate Equities

Hedge funds have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. acquired a new stake in Alexandria Real Estate Equities during the 4th quarter worth approximately $25,000. Capital Advisors Ltd. LLC acquired a new stake in shares of Alexandria Real Estate Equities in the 4th quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its holdings in shares of Alexandria Real Estate Equities by 340.9% in the 4th quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 150 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Alexandria Real Estate Equities by 61.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 291 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 111 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Alexandria Real Estate Equities by 275.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 171 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the transaction, the chief executive officer now owns 249,683 shares in the company, valued at approximately $30,686,040.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter M. Moglia sold 3,200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $122.90, for a total value of $393,280.00. Following the sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at $30,686,040.70. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company insiders.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 4.33%. Alexandria Real Estate Equities’s dividend payout ratio is presently 474.77%.

Alexandria Real Estate Equities Company Profile

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.