Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500<sup>®</sup> urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet ("SF"). The asset base in North America includes 31.9 million RSF of operating properties and 3.3 million RSF of Class A properties undergoing construction, 7.1 million RSF of near-term and intermediate-term development and redevelopment projects, and 7.4 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology, and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. Alexandria also provides strategic capital to transformative life science, technology, and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Credit Suisse Group assumed coverage on Alexandria Real Estate Equities in a report on Wednesday, June 22nd. They issued a "neutral" rating and a $140.00 target price for the company. StockNews.com downgraded Alexandria Real Estate Equities from a "hold" rating to a "sell" rating in a report on Saturday. Mizuho decreased their price objective on Alexandria Real Estate Equities from $219.00 to $172.00 and set a "buy" rating for the company in a report on Thursday, June 23rd. Finally, JMP Securities decreased their price objective on Alexandria Real Estate Equities from $230.00 to $200.00 and set a "market outperform" rating for the company in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $193.40.
Alexandria Real Estate Equities Stock Down 0.0 %
Shares of NYSE:ARE traded down $0.04 during mid-day trading on Monday, hitting $170.05. 15,525 shares of the company traded hands, compared to its average volume of 1,078,616. The stock has a market cap of $27.75 billion, a P/E ratio of 91.94, a P/E/G ratio of 2.62 and a beta of 0.92. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.50. Alexandria Real Estate Equities has a 12-month low of $130.00 and a 12-month high of $224.95. The stock has a 50-day moving average price of $149.34 and a two-hundred day moving average price of $173.04.
Alexandria Real Estate Equities (NYSE:ARE - Get Rating) last announced its earnings results on Monday, July 25th. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $1.01. The company had revenue of $643.80 million for the quarter, compared to analysts' expectations of $633.13 million. Alexandria Real Estate Equities had a return on equity of 1.93% and a net margin of 12.54%. Alexandria Real Estate Equities's quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 earnings per share. On average, equities research analysts forecast that Alexandria Real Estate Equities will post 8.41 earnings per share for the current year.
Alexandria Real Estate Equities Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $1.18 per share. This is a boost from Alexandria Real Estate Equities's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, June 29th. This represents a $4.72 annualized dividend and a dividend yield of 2.78%. Alexandria Real Estate Equities's payout ratio is presently 255.14%.
Insider Activity at Alexandria Real Estate Equities
In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the business's stock in a transaction on Monday, June 27th. The shares were acquired at an average price of $1.00 per share, with a total value of $3,500,000.00. Following the completion of the transaction, the insider now owns 4,555,077 shares in the company, valued at $4,555,077. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alexandria Real Estate Equities news, General Counsel Jackie B. Clem sold 794 shares of the business's stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $156.60, for a total value of $124,340.40. Following the completion of the transaction, the general counsel now owns 22,824 shares of the company's stock, valued at approximately $3,574,238.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Real Estate Equitie Alexandria acquired 3,500,000 shares of the business's stock in a transaction dated Monday, June 27th. The stock was acquired at an average cost of $1.00 per share, with a total value of $3,500,000.00. Following the purchase, the insider now directly owns 4,555,077 shares in the company, valued at approximately $4,555,077. The disclosure for this purchase can be found here. 0.96% of the stock is owned by insiders.
