Alexandria Real Estate Equities (NYSE:ARE) Issues Earnings Results, Beats Expectations By $1.48 EPS

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $2.39 earnings per share for the quarter, topping the consensus estimate of $0.91 by $1.48, Zacks reports. Alexandria Real Estate Equities had a return on equity of 1.31% and a net margin of 9.62%.

Alexandria Real Estate Equities Price Performance

Shares of NYSE:ARE traded up $0.40 during trading on Monday, hitting $102.03. 2,644,528 shares of the company's stock were exchanged, compared to its average volume of 1,336,489. The company has a market cap of $17.83 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 3.85 and a beta of 1.16. The business's 50-day simple moving average is $102.13 and its 200 day simple moving average is $112.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20. Alexandria Real Estate Equities has a 52-week low of $94.35 and a 52-week high of $130.14.

Alexandria Real Estate Equities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.32 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.28 annualized dividend and a yield of 5.18%. This is a boost from Alexandria Real Estate Equities's previous quarterly dividend of $1.30. Alexandria Real Estate Equities's dividend payout ratio is currently 321.95%.

Alexandria Real Estate Equities announced that its Board of Directors has initiated a share buyback program on Monday, December 9th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARE. Royal Bank of Canada lowered their target price on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a "sector perform" rating for the company in a research note on Tuesday, December 17th. Robert W. Baird reduced their target price on shares of Alexandria Real Estate Equities from $137.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut shares of Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and lowered their target price for the company from $135.00 to $112.00 in a research note on Friday, November 15th. Wedbush reiterated an "outperform" rating and issued a $110.00 price objective (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research note on Friday, December 6th. Finally, Evercore ISI dropped their price target on shares of Alexandria Real Estate Equities from $129.00 to $124.00 and set an "in-line" rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.90.

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.

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