Alexandria Real Estate Equities (NYSE:ARE) Announces Quarterly Earnings Results, Misses Estimates By $1.42 EPS

Alexandria Real Estate Equities (NYSE:ARE - Get Free Report) issued its earnings results on Monday. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.38 by ($1.42), Yahoo Finance reports. Alexandria Real Estate Equities had a net margin of 5.09% and a return on equity of 0.68%. The firm had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. During the same quarter in the previous year, the business posted $2.26 EPS. Alexandria Real Estate Equities's revenue was up 10.9% compared to the same quarter last year. Alexandria Real Estate Equities updated its FY24 guidance to $9.45-9.49 EPS and its FY 2024 guidance to 9.450-9.490 EPS.

Alexandria Real Estate Equities Stock Performance

ARE traded down $1.55 during trading on Tuesday, reaching $117.97. 2,143,972 shares of the company's stock were exchanged, compared to its average volume of 972,608. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $118.96 and a 200 day moving average price of $118.83. The company has a market capitalization of $20.63 billion, a P/E ratio of 109.60, a PEG ratio of 3.99 and a beta of 1.16. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45.

Alexandria Real Estate Equities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Monday, September 30th. Alexandria Real Estate Equities's dividend payout ratio is currently 485.98%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARE. Citigroup downgraded Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and lowered their target price for the company from $130.00 to $125.00 in a research note on Friday, September 13th. Jefferies Financial Group lowered Alexandria Real Estate Equities from a "buy" rating to a "hold" rating and dropped their target price for the stock from $136.00 to $127.00 in a research report on Friday, August 2nd. Bank of America downgraded Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $151.00 to $126.00 in a research report on Monday, July 29th. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a "hold" rating in a research report on Wednesday, September 25th. Finally, Evercore ISI boosted their price objective on Alexandria Real Estate Equities from $126.00 to $127.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Alexandria Real Estate Equities presently has a consensus rating of "Hold" and a consensus price target of $133.22.

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.