Alexandria Real Estate Equities (NYSE:ARE – Get Rating) announced its quarterly earnings data on Monday. The real estate investment trust reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.96), RTT News reports. The company had revenue of $615.10 million for the quarter, compared to the consensus estimate of $595.35 million. Alexandria Real Estate Equities had a return on equity of 3.40% and a net margin of 26.93%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. Alexandria Real Estate Equities updated its FY 2022 guidance to $8.330-$8.430 EPS and its FY22 guidance to $8.33-$8.43 EPS.
Shares of NYSE ARE opened at $193.00 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The stock’s fifty day moving average price is $194.45 and its two-hundred day moving average price is $201.37. Alexandria Real Estate Equities has a one year low of $171.50 and a one year high of $224.95. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 50.92, a P/E/G ratio of 3.08 and a beta of 0.82.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, March 30th. Alexandria Real Estate Equities’s dividend payout ratio is 121.37%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARE. Morgan Stanley grew its holdings in shares of Alexandria Real Estate Equities by 12.5% during the 2nd quarter. Morgan Stanley now owns 929,218 shares of the real estate investment trust’s stock worth $169,062,000 after purchasing an additional 103,536 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Alexandria Real Estate Equities by 8.9% during the 4th quarter. Parametric Portfolio Associates LLC now owns 387,294 shares of the real estate investment trust’s stock worth $86,351,000 after purchasing an additional 31,655 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth $6,199,000. State of Tennessee Treasury Department acquired a new stake in shares of Alexandria Real Estate Equities during the 4th quarter worth $5,090,000. Finally, California State Teachers Retirement System lifted its position in shares of Alexandria Real Estate Equities by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 268,809 shares of the real estate investment trust’s stock worth $59,934,000 after buying an additional 5,993 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.
ARE has been the topic of a number of recent analyst reports. StockNews.com raised Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a report on Saturday, April 16th. Mizuho boosted their target price on Alexandria Real Estate Equities from $200.00 to $219.00 in a report on Thursday, January 20th. Finally, TheStreet lowered Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a report on Friday, March 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $180.80.
About Alexandria Real Estate Equities (Get Rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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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