Alexandria Real Estate Equities (NYSE:ARE – Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $1.57, Zacks reports. Alexandria Real Estate Equities had a negative return on equity of 5.21% and a negative net margin of 36.08%. The business had revenue of $671.18 million for the quarter, compared to the consensus estimate of $646.26 million.
Alexandria Real Estate Equities Price Performance
Shares of ARE stock traded up $0.27 on Monday, reaching $43.29. The company had a trading volume of 3,142,557 shares, compared to its average volume of 2,228,066. Alexandria Real Estate Equities has a one year low of $39.41 and a one year high of $78.00. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7.54 billion, a PE ratio of -7.14 and a beta of 1.16. The business’s 50-day moving average is $48.99 and its 200 day moving average is $48.99.
Alexandria Real Estate Equities Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.7%. Alexandria Real Estate Equities’s dividend payout ratio is -47.52%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price target on Alexandria Real Estate Equities from $47.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 24th. Raymond James Financial set a $41.00 price objective on shares of Alexandria Real Estate Equities in a research report on Monday, October 12th. JPMorgan Chase & Co. downgraded shares of Alexandria Real Estate Equities from a “neutral” rating to an “underweight” rating and set a $56.00 price objective on the stock. in a research note on Thursday, September 24th. Royal Bank Of Canada set a $41.00 price objective on shares of Alexandria Real Estate Equities in a research note on Monday, October 12th. Finally, Robert W. Baird boosted their target price on shares of Alexandria Real Estate Equities from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $50.86.
Get Our Latest Research Report on Alexandria Real Estate Equities
Insider Activity at Alexandria Real Estate Equities
In other news, Chairman Joel S. Marcus acquired 5,000 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average price of $49.68 per share, for a total transaction of $248,400.00. Following the transaction, the chairman directly owned 597,724 shares of the company’s stock, valued at approximately $29,694,928.32. The trade was a 0.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristina Fukuzaki-Carlson sold 16,810 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $50.51, for a total value of $849,073.10. Following the completion of the transaction, the executive vice president directly owned 39,152 shares of the company’s stock, valued at approximately $1,977,567.52. The trade was a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.35% of the stock is currently owned by company insiders.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE) is a real estate investment trust that owns, operates and develops collaborative life science, agtech and advanced technology campuses. Its properties are designed for companies, research institutions and government agencies engaged in biotechnology, pharmaceuticals, medical devices, agriculture technology and related fields.
The company provides laboratory, office and research space, along with supporting amenities and infrastructure intended to foster collaboration among its tenants.
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