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

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 9.410-9.530 for the period, compared to the consensus earnings per share estimate of 9.480. The company issued revenue guidance of -. Alexandria Real Estate Equities also updated its FY24 guidance to $9.41-9.53 EPS.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARE. JMP Securities reissued a market outperform rating and issued a $140.00 price target on shares of Alexandria Real Estate Equities in a report on Wednesday, January 31st. Wedbush reaffirmed an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. StockNews.com raised 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 issued a buy rating and a $140.00 target price for the company. Finally, Mizuho raised their target price 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $137.13.

Alexandria Real Estate Equities Stock Up 2.5 %

NYSE ARE traded up $2.91 during trading hours on Monday, reaching $118.60. 1,049,914 shares of the company's stock traded hands, compared to its average volume of 999,850. Alexandria Real Estate Equities has a 52-week low of $90.73 and a 52-week high of $135.45. The firm has a market cap of $20.75 billion, a PE ratio of 219.63, a PEG ratio of 2.64 and a beta of 1.05. The firm has a 50-day simple moving average of $122.82 and a 200 day simple moving average of $116.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26.

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($2.83). Alexandria Real Estate Equities had a net margin of 3.59% and a return on equity of 0.46%. The business had revenue of $757.22 million for the quarter, compared to analysts' expectations of $740.16 million. During the same period last year, the business earned $2.14 earnings per share. The company's revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Alexandria Real Estate Equities will post 9.47 EPS for the current fiscal year.

Alexandria Real Estate Equities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 4.28%. Alexandria Real Estate Equities's dividend payout ratio (DPR) is presently 940.76%.

Insiders Place Their Bets

In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the completion of the transaction, the chairman now directly owns 429,538 shares of the company's stock, valued at $51,080,658.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alexandria Real Estate Equities news, Chairman Joel S. Marcus sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $118.92, for a total value of $891,900.00. Following the completion of the transaction, the chairman now directly owns 429,538 shares of the company's stock, valued at $51,080,658.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter M. Moglia sold 3,200 shares of Alexandria Real Estate Equities stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the completion of the transaction, the chief executive officer now directly owns 249,683 shares of the company's stock, valued at $30,686,040.70. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company's stock.

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.