Alexandria Real Estate Equities (NYSE:ARE) Issues FY 2023 Earnings Guidance

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided EPS guidance of $8.86-$9.06 for the period, compared to the consensus EPS estimate of $8.92. The company issued revenue guidance of -.

Alexandria Real Estate Equities Trading Up 2.1%

Shares of Alexandria Real Estate Equities stock opened at $145.20 on Friday. The business has a fifty day simple moving average of $147.30 and a two-hundred day simple moving average of $148.00. Alexandria Real Estate Equities has a 1 year low of $126.74 and a 1 year high of $224.95. The company has a market capitalization of $23.83 billion, a price-to-earnings ratio of 44.13, a P/E/G ratio of 2.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.37 and a quick ratio of 0.37.

Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.01). The business had revenue of $659.90 million for the quarter, compared to analyst estimates of $657.48 million. Alexandria Real Estate Equities had a net margin of 21.73% and a return on equity of 3.03%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. Research analysts forecast that Alexandria Real Estate Equities will post 8.41 EPS for the current year.

Alexandria Real Estate Equities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a dividend of $1.21 per share. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, December 29th. This represents a $4.84 annualized dividend and a yield of 3.33%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is currently 143.47%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARE shares. Evercore ISI lowered their price objective on Alexandria Real Estate Equities to $168.00 in a research report on Friday, December 2nd. JMP Securities restated a buy rating and issued a $180.00 price target on shares of Alexandria Real Estate Equities in a research report on Thursday, October 6th. StockNews.com assumed coverage on Alexandria Real Estate Equities in a research report on Wednesday, October 12th. They issued a sell rating on the stock. Robert W. Baird raised their price target on Alexandria Real Estate Equities from $151.00 to $162.00 in a research report on Friday, December 2nd. Finally, Mizuho raised their price target on Alexandria Real Estate Equities from $172.00 to $178.00 and gave the stock a buy rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $173.43.

Insider Activity at Alexandria Real Estate Equities

In related news, CFO Dean A. Shigenaga sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $152.51, for a total value of $1,372,590.00. Following the sale, the chief financial officer now directly owns 134,832 shares of the company’s stock, valued at $20,563,228.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dean A. Shigenaga sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $152.51, for a total value of $1,372,590.00. Following the sale, the chief financial officer now directly owns 134,832 shares of the company’s stock, valued at $20,563,228.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter M. Moglia sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $151.89, for a total value of $303,780.00. Following the sale, the chief executive officer now directly owns 167,099 shares in the company, valued at $25,380,667.11. The disclosure for this sale can be found here. Insiders have sold 34,253 shares of company stock valued at $5,179,946 over the last ninety days. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Alexandria Real Estate Equities

Hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC boosted its stake in shares of Alexandria Real Estate Equities by 17.3% during the first quarter. Cresset Asset Management LLC now owns 2,147 shares of the real estate investment trust’s stock valued at $434,000 after purchasing an additional 316 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of Alexandria Real Estate Equities in the first quarter worth approximately $423,000. Wahed Invest LLC lifted its stake in shares of Alexandria Real Estate Equities by 6.1% in the first quarter. Wahed Invest LLC now owns 1,959 shares of the real estate investment trust’s stock worth $394,000 after acquiring an additional 112 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Alexandria Real Estate Equities by 4.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 2,450 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 99 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Alexandria Real Estate Equities by 185.3% in the first quarter. Advisors Asset Management Inc. now owns 1,355 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 880 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

About Alexandria Real Estate Equities

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Alexandria Real Estate Equities, Inc (NYSE:ARE), on the S&P 500^® urban office real estate investment trust (“REIT”), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (“SF”).

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