Alexandria Real Estate Equities, Inc. (NYSE:ARE - Free Report) - Equities research analysts at Wedbush dropped their Q2 2024 EPS estimates for shares of Alexandria Real Estate Equities in a note issued to investors on Wednesday, April 24th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $2.32 per share for the quarter, down from their previous estimate of $2.37. Wedbush currently has a "Outperform" rating and a $140.00 target price on the stock. The consensus estimate for Alexandria Real Estate Equities' current full-year earnings is $9.46 per share. Wedbush also issued estimates for Alexandria Real Estate Equities' Q3 2024 earnings at $2.40 EPS and Q4 2024 earnings at $2.40 EPS.
Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) EPS for the quarter, missing the consensus estimate of $2.29 by ($2.83). The firm had revenue of $757.22 million during the quarter, compared to analyst estimates of $740.16 million. Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. Alexandria Real Estate Equities's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 earnings per share.
A number of other research firms have also recently issued reports on ARE. Evercore ISI lowered their price objective on shares of Alexandria Real Estate Equities from $137.00 to $132.00 and set an "outperform" rating for the company in a research report on Thursday. Mizuho upped their price objective on shares of Alexandria Real Estate Equities from $145.00 to $154.00 and gave the stock a "buy" rating in a research report on Wednesday, January 3rd. StockNews.com upgraded shares of Alexandria Real Estate Equities from a "sell" rating to a "hold" rating in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 30th. They set a "buy" rating and a $140.00 price objective for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $136.75.
View Our Latest Stock Report on Alexandria Real Estate Equities
Alexandria Real Estate Equities Price Performance
ARE stock traded down $1.07 during trading on Friday, reaching $116.23. 888,255 shares of the company were exchanged, compared to its average volume of 1,004,676. The company has a 50-day moving average of $123.04 and a two-hundred day moving average of $117.00. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 109.61, a P/E/G ratio of 2.74 and a beta of 1.05. Alexandria Real Estate Equities has a twelve month low of $90.73 and a twelve month high of $135.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.26.
Alexandria Real Estate Equities Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Wednesday, March 27th. Alexandria Real Estate Equities's dividend payout ratio is currently 474.77%.
Insider Activity
In other news, Chairman Joel S. Marcus sold 7,500 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the sale, the chairman now directly owns 429,538 shares of the company's stock, valued at approximately $51,080,658.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Peter M. Moglia sold 3,200 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $122.90, for a total transaction of $393,280.00. Following the transaction, the chief executive officer now directly owns 249,683 shares of the company's stock, valued at $30,686,040.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joel S. Marcus sold 7,500 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total transaction of $891,900.00. Following the transaction, the chairman now directly owns 429,538 shares in the company, valued at $51,080,658.96. The disclosure for this sale can be found here. Insiders own 1.15% of the company's stock.
Institutional Trading of Alexandria Real Estate Equities
Hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC purchased a new position in shares of Alexandria Real Estate Equities in the third quarter worth about $407,000. Exchange Traded Concepts LLC increased its stake in shares of Alexandria Real Estate Equities by 5.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,138 shares of the real estate investment trust's stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Czech National Bank increased its stake in shares of Alexandria Real Estate Equities by 46.0% in the third quarter. Czech National Bank now owns 27,217 shares of the real estate investment trust's stock worth $2,724,000 after purchasing an additional 8,579 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Alexandria Real Estate Equities by 31.7% during the third quarter. Handelsbanken Fonder AB now owns 46,964 shares of the real estate investment trust's stock valued at $4,701,000 after acquiring an additional 11,297 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in Alexandria Real Estate Equities during the third quarter valued at approximately $297,000. Institutional investors own 96.54% of the company's stock.
Alexandria Real Estate Equities Company Profile
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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.
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