Alexandria Real Estate Equities, Inc. to Post Q2 2024 Earnings of $2.32 Per Share, Wedbush Forecasts (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) – Analysts at Wedbush dropped their Q2 2024 earnings estimates for Alexandria Real Estate Equities in a report issued on Wednesday, April 24th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $2.32 per share for the quarter, down from their prior forecast of $2.37. Wedbush has a “Outperform” rating and a $140.00 price target on the stock. The consensus estimate for Alexandria Real Estate Equities’ current full-year earnings is $9.46 per share. Wedbush also issued estimates for Alexandria Real Estate Equities’ Q3 2024 earnings at $2.40 EPS and Q4 2024 earnings at $2.40 EPS.

Alexandria Real Estate Equities (NYSE:ARE) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($2.83). The firm had revenue of $757.22 million for the quarter, compared to analysts’ expectations of $740.16 million. Alexandria Real Estate Equities had a net margin of 6.65% and a return on equity of 0.87%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS.

Several other research analysts also recently weighed in on ARE. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Mizuho increased their target price on Alexandria Real Estate Equities from $145.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Alexandria Real Estate Equities in a research report on Wednesday, January 31st. Evercore ISI dropped their price target on Alexandria Real Estate Equities from $137.00 to $132.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Alexandria Real Estate Equities in a report on Tuesday, January 30th. They issued a “buy” rating and a $140.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Moderate Buy” and a consensus target price of $136.75.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $116.24 on Friday. Alexandria Real Estate Equities has a 1 year low of $90.73 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a market cap of $20.33 billion, a price-to-earnings ratio of 108.64, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. The firm has a 50-day moving average of $122.98 and a two-hundred day moving average of $117.22.

Alexandria Real Estate Equities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 4.37%. Alexandria Real Estate Equities’s payout ratio is 474.77%.

Insider Activity

In related news, CEO Peter M. Moglia sold 3,200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $122.90, for a total transaction of $393,280.00. Following the completion of the sale, the chief executive officer now directly owns 249,683 shares of the company’s stock, valued at approximately $30,686,040.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Joel S. Marcus sold 7,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $118.92, for a total transaction of $891,900.00. Following the completion of the transaction, the chairman now directly owns 429,538 shares of the company’s stock, valued at $51,080,658.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter M. Moglia sold 3,200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $122.90, for a total value of $393,280.00. Following the completion of the transaction, the chief executive officer now directly owns 249,683 shares in the company, valued at approximately $30,686,040.70. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Several hedge funds have recently added to or reduced their stakes in ARE. Oakworth Capital Inc. purchased a new position in shares of Alexandria Real Estate Equities during the fourth quarter worth about $25,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Alexandria Real Estate Equities during the fourth quarter worth approximately $25,000. HHM Wealth Advisors LLC lifted its stake in shares of Alexandria Real Estate Equities by 340.9% in the 4th quarter. HHM Wealth Advisors LLC now owns 194 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 150 shares during the period. Parkside Financial Bank & Trust lifted its position in Alexandria Real Estate Equities by 61.7% in the third quarter. Parkside Financial Bank & Trust now owns 291 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 111 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Alexandria Real Estate Equities by 275.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 233 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 171 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

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.