Alexandria Real Estate Equities Inc (NYSE:ARE) declared a quarterly dividend on Monday, March 4th, Zacks reports. Shareholders of record on Friday, March 29th will be paid a dividend of 0.97 per share by the real estate investment trust on Monday, April 15th. This represents a $3.88 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, March 28th.
Alexandria Real Estate Equities has increased its dividend payment by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Alexandria Real Estate Equities has a payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alexandria Real Estate Equities to earn $7.34 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 52.9%.
ARE opened at $141.72 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $16.06 billion, a PE ratio of 21.47, a P/E/G ratio of 4.66 and a beta of 0.92. Alexandria Real Estate Equities has a 1 year low of $109.04 and a 1 year high of $143.55.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, February 4th. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($1.99). The company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $348.01 million. Alexandria Real Estate Equities had a return on equity of 5.28% and a net margin of 28.57%. Alexandria Real Estate Equities’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. Sell-side analysts forecast that Alexandria Real Estate Equities will post 6.96 earnings per share for the current fiscal year.
ARE has been the subject of several recent analyst reports. CIBC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, January 15th. Royal Bank of Canada raised Alexandria Real Estate Equities from an “outperform” rating to a “top pick” rating in a research report on Friday, December 14th. ValuEngine lowered Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Citigroup raised Alexandria Real Estate Equities from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $144.00 in a research report on Monday, December 3rd. Finally, Canaccord Genuity reaffirmed an “average” rating and issued a $24.00 price target on shares of Alexandria Real Estate Equities in a research report on Tuesday, December 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alexandria Real Estate Equities presently has a consensus rating of “Buy” and a consensus price target of $110.00.
In related news, insider Thomas J. Andrews sold 25,000 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $134.18, for a total value of $3,354,500.00. Following the completion of the sale, the insider now directly owns 146,916 shares in the company, valued at approximately $19,713,188.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel S. Marcus sold 10,000 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $130.01, for a total value of $1,300,100.00. Following the completion of the sale, the insider now owns 557,312 shares of the company’s stock, valued at $72,456,133.12. The disclosure for this sale can be found here. Insiders sold a total of 96,721 shares of company stock valued at $13,018,578 over the last quarter. 1.41% of the stock is owned by corporate insiders.
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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 $18.4 billion and an asset base in North America of 33.1 million square feet ("SF") as of December 31, 2018.
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