Alexandria Real Estate Equities (NYSE:ARE) Issues Earnings Results, Misses Expectations By $1.42 EPS

Alexandria Real Estate Equities (NYSE:ARE) released its earnings results on Monday. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42), Yahoo Finance reports. Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. During the same period in the prior year, the firm earned $2.26 EPS. The firm’s revenue for the quarter 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 Performance

Shares of Alexandria Real Estate Equities stock opened at $117.97 on Wednesday. The business has a 50-day simple moving average of $119.05 and a 200-day simple moving average of $118.78. The company has a market cap of $20.63 billion, a PE ratio of 110.25, a P/E/G ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a one year low of $90.73 and a one year high of $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23.

Alexandria Real Estate Equities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s payout ratio is presently 485.98%.

Analyst Upgrades and Downgrades

ARE has been the subject of a number of analyst reports. BMO Capital Markets upgraded Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Evercore ISI upped their target price on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Citigroup lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $130.00 to $125.00 in a report on Friday, September 13th. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the company from $136.00 to $127.00 in a report on Friday, August 2nd. Finally, Wedbush downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $130.00 in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $133.22.

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.