Alexandria Real Estate Equities (NYSE:ARE) Issues FY24 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $9.41-9.53 for the period, compared to the consensus EPS estimate of $9.48.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARE. Wedbush restated an outperform rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, April 24th. Evercore ISI boosted their target price on Alexandria Real Estate Equities from $132.00 to $133.00 and gave the stock an outperform rating in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $136.14.

Alexandria Real Estate Equities Stock Performance

Shares of ARE traded up $0.63 on Monday, reaching $125.84. 929,656 shares of the stock traded hands, compared to its average volume of 907,846. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of 117.12, a P/E/G ratio of 3.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.30. Alexandria Real Estate Equities has a 12 month low of $90.73 and a 12 month high of $135.45. The stock’s 50-day moving average price is $119.03 and its 200-day moving average price is $121.12.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.30 per share. The ex-dividend date was Friday, June 28th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. Alexandria Real Estate Equities’s payout ratio is currently 485.99%.

Insider Buying and Selling at Alexandria Real Estate Equities

In other Alexandria Real Estate Equities news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the sale, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.