Alexandria Real Estate Equities, Inc. (NYSE:ARE) Declares Quarterly Dividend of $1.32

Alexandria Real Estate Equities, Inc. (NYSE:ARE - Get Free Report) announced a quarterly dividend on Monday, June 2nd, RTT News reports. Stockholders of record on Monday, June 30th will be given a dividend of 1.32 per share by the real estate investment trust on Tuesday, July 15th. This represents a $5.28 annualized dividend and a dividend yield of 7.52%. The ex-dividend date is Monday, June 30th.

Alexandria Real Estate Equities has raised its dividend by an average of 5.0% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Alexandria Real Estate Equities has a dividend payout ratio of 229.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alexandria Real Estate Equities to earn $9.62 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 54.9%.

Alexandria Real Estate Equities Price Performance

Shares of ARE stock traded up $0.66 during trading hours on Tuesday, hitting $70.26. The company had a trading volume of 1,625,813 shares, compared to its average volume of 1,297,924. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 3.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. Alexandria Real Estate Equities has a 12 month low of $67.37 and a 12 month high of $130.14. The firm's fifty day moving average is $76.40 and its 200 day moving average is $91.81.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.02. The firm had revenue of $758.16 million for the quarter, compared to the consensus estimate of $755.64 million. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. On average, sell-side analysts predict that Alexandria Real Estate Equities will post 9.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of analyst reports. Wall Street Zen raised Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lowered their target price on Alexandria Real Estate Equities from $117.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, May 20th. Jefferies Financial Group initiated coverage on Alexandria Real Estate Equities in a report on Monday, March 17th. They set a "hold" rating and a $100.00 target price for the company. Finally, JMP Securities reiterated a "market outperform" rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Alexandria Real Estate Equities has an average rating of "Hold" and a consensus target price of $116.00.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several hedge funds have recently modified their holdings of ARE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alexandria Real Estate Equities by 102.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,245 shares of the real estate investment trust's stock valued at $2,184,000 after acquiring an additional 11,762 shares in the last quarter. Focus Partners Wealth lifted its stake in Alexandria Real Estate Equities by 171.5% in the 1st quarter. Focus Partners Wealth now owns 6,591 shares of the real estate investment trust's stock valued at $610,000 after purchasing an additional 4,163 shares during the last quarter. Woodline Partners LP lifted its stake in Alexandria Real Estate Equities by 39.9% in the 1st quarter. Woodline Partners LP now owns 13,015 shares of the real estate investment trust's stock valued at $1,204,000 after purchasing an additional 3,714 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Alexandria Real Estate Equities by 4,261.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,140 shares of the real estate investment trust's stock valued at $290,000 after purchasing an additional 3,068 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Alexandria Real Estate Equities by 4.8% in the 1st quarter. Empowered Funds LLC now owns 6,455 shares of the real estate investment trust's stock valued at $597,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 96.54% of the company's stock.

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.