Alexandria Real Estate Equities (NYSE:ARE) Updates 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 earnings per share guidance of 9.450-9.490 for the period, compared to the consensus earnings per share 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.

Alexandria Real Estate Equities Stock Up 1.6 %

ARE opened at $119.90 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a fifty day moving average of $119.18 and a 200-day moving average of $118.79. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45. The company has a market capitalization of $20.97 billion, a P/E ratio of 112.06, a P/E/G ratio of 3.99 and a beta of 1.16.

Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The business had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. During the same quarter last year, the firm earned $2.26 EPS. Alexandria Real Estate Equities’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Alexandria Real Estate Equities will post 9.47 EPS for the current year.

Alexandria Real Estate Equities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities’s dividend payout ratio is currently 485.98%.

Analyst Ratings Changes

ARE has been the subject of several recent analyst reports. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $125.00 in a research report on Friday, September 13th. Jefferies Financial Group downgraded shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and reduced their price target for the company from $136.00 to $127.00 in a research note on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research report on Tuesday, July 23rd. Wedbush cut their target price on shares of Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a “hold” rating in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexandria Real Estate Equities has a consensus rating of “Hold” and an average target price of $131.78.

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.