Alexandria Real Estate Equities (NYSE:ARE) Releases FY 2024 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 9.450-9.490 for the period, compared to the consensus EPS estimate of 9.470. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.45-9.49 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup cut shares of Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $130.00 to $125.00 in a report on Friday, September 13th. Wedbush cut Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $140.00 to $130.00 in a report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Tuesday, July 23rd. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada reduced their price objective on shares of Alexandria Real Estate Equities from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $133.22.

Alexandria Real Estate Equities Price Performance

ARE opened at $119.52 on Tuesday. The firm has a market capitalization of $20.90 billion, a PE ratio of 111.70, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. The business’s 50-day moving average is $118.96 and its two-hundred day moving average is $118.83. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.23 and a quick ratio of 0.23.

Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($2.09). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $766.70 million for the quarter, compared to analysts’ expectations of $775.03 million. During the same period last year, the business earned $2.24 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts anticipate that Alexandria Real Estate Equities will post 9.47 earnings per share for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

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.