Alexandria Real Estate Equities (NYSE:ARE) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share guidance of $6.85-$7.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.94. Alexandria Real Estate Equities also updated its FY 2019 guidance to $6.85-7.05 EPS.
ARE traded down $0.76 during trading on Wednesday, reaching $128.99. 31,754 shares of the company’s stock were exchanged, compared to its average volume of 682,717. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $14.08 billion, a PE ratio of 19.52, a P/E/G ratio of 2.96 and a beta of 0.91. Alexandria Real Estate Equities has a 1 year low of $109.04 and a 1 year high of $132.20.
Get Alexandria Real Estate Equities alerts:Alexandria Real Estate Equities (NYSE:ARE) last posted 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). The firm had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $348.01 million. Alexandria Real Estate Equities had a net margin of 28.57% and a return on equity of 5.45%. Alexandria Real Estate Equities’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. As a group, analysts predict that Alexandria Real Estate Equities will post 6.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 3.01%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, December 28th. Alexandria Real Estate Equities’s payout ratio is 58.79%.
Several research firms have recently weighed in on ARE. Zacks Investment Research lowered shares of Alexandria Real Estate Equities from a buy rating to a hold rating in a report on Friday, November 30th. ValuEngine raised shares of Alexandria Real Estate Equities from a hold rating to a buy rating in a report on Tuesday, January 29th. Barclays dropped 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 note on Monday, December 3rd. Canaccord Genuity reissued an average rating and issued a $24.00 price target on shares of Alexandria Real Estate Equities in a research note on Tuesday, December 18th. Finally, Citigroup raised shares of Alexandria Real Estate Equities from a neutral rating to a buy rating and lifted their price target for the company from $133.00 to $144.00 in a research note on Monday, December 3rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Alexandria Real Estate Equities currently has an average rating of Buy and a consensus target price of $108.88.
In other Alexandria Real Estate Equities news, insider Joel S. Marcus sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $124.63, for a total transaction of $1,246,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen Richardson sold 7,500 shares of Alexandria Real Estate Equities stock in a transaction on Tuesday, December 4th. The stock was 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. In the last ninety days, insiders have sold 27,500 shares of company stock worth $3,447,075. 1.41% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION WARNING: This report was originally posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/4131196/alexandria-real-estate-equities-are-updates-fy19-earnings-guidance.html.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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