Alexandria Real Estate Equities (NYSE:ARE) Releases Quarterly Earnings Results

Alexandria Real Estate Equities (NYSE:ARE) announced its quarterly earnings data on Monday. The real estate investment trust reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $1.48, Zacks reports. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%.

Alexandria Real Estate Equities Price Performance

Shares of NYSE ARE traded up $0.40 during mid-day trading on Monday, hitting $102.03. 2,644,528 shares of the stock were exchanged, compared to its average volume of 1,336,489. The company has a market cap of $17.83 billion, a P/E ratio of 62.21, a PEG ratio of 3.85 and a beta of 1.16. Alexandria Real Estate Equities has a twelve month low of $94.35 and a twelve month high of $130.14. The stock’s fifty day simple moving average is $102.13 and its two-hundred day simple moving average is $112.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

Alexandria Real Estate Equities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.32 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, December 31st. This represents a $5.28 annualized dividend and a dividend yield of 5.18%. Alexandria Real Estate Equities’s dividend payout ratio is presently 321.95%.

Alexandria Real Estate Equities declared that its board has approved a share buyback plan on Monday, December 9th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARE shares. Royal Bank of Canada reduced their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Tuesday, December 17th. Wedbush reiterated an “outperform” rating and issued a $110.00 target price (down previously from $120.00) on shares of Alexandria Real Estate Equities in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft cut Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $112.00 in a research note on Friday, November 15th. JPMorgan Chase & Co. downgraded Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $133.00 to $121.00 in a report on Wednesday, November 27th. Finally, JMP Securities decreased their price objective on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.90.

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.