Alexandria Real Estate Equities (NYSE:ARE) updated its FY 2019 earnings guidance on Monday. The company provided earnings per share guidance of $6.85-7.05 for the period. Alexandria Real Estate Equities also updated its FY19 guidance to $6.85-$7.05 EPS.
Several research analysts recently commented on the stock. Evercore ISI set a $148.00 target price on shares of Alexandria Real Estate Equities and gave the stock a buy rating in a report on Monday, October 15th. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a hold rating to a buy rating and set a $136.00 price target on the stock in a research report on Monday, October 29th. CIBC restated a buy rating and issued a $23.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 15th. Canaccord Genuity restated an average rating and issued a $24.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, December 18th. Finally, Barclays decreased their price target on shares of Alexandria Real Estate Equities from $126.00 to $125.00 and set an overweight rating on the stock in a research report on Monday, December 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $108.88.
NYSE ARE traded down $1.32 during midday trading on Wednesday, hitting $128.43. The company had a trading volume of 14,520 shares, compared to its average volume of 682,717. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 2.96 and a beta of 0.91. Alexandria Real Estate Equities has a fifty-two week low of $109.04 and a fifty-two week high of $132.20.
Alexandria Real Estate Equities (NYSE:ARE) last issued its earnings results on Monday, February 4th. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $1.69 by ($1.99). Alexandria Real Estate Equities had a net margin of 28.57% and a return on equity of 5.45%. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $348.01 million. During the same quarter last year, the firm posted $1.53 earnings per share. Alexandria Real Estate Equities’s revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Alexandria Real Estate Equities will post 6.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a dividend of $0.97 per share. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.93. This represents a $3.88 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, December 28th. Alexandria Real Estate Equities’s payout ratio is 58.79%.
In other Alexandria Real Estate Equities news, insider Joel S. Marcus sold 10,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $124.63, for a total value of $1,246,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Richardson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $125.09, for a total transaction of $938,175.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,500 shares of company stock worth $3,447,075. 1.41% of the stock is owned by company insiders.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500 company, is an urban office real estate investment trust (REIT) uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $19.1 billion and an asset base in North America of 32.2 million square feet (SF) as of September 30, 2018.
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