Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) announced a quarterly dividend on Tuesday, May 31, reports RTT News. Shareholders of record on Thursday, June 30 will receive a dividend of $1.18 per share from the Real Estate Investment Trust on Friday, July 15. That equates to an annualized dividend of $4.72 and a dividend yield of 2.83%. This is an increase from Alexandria Real Estate Equities’ previous quarterly dividend of $1.15.
Alexandria Real Estate Equities has increased its dividend by an average of 6.3% per year for the past three years, and has increased its dividend every year for the last 12 years. Alexandria Real Estate Equities has a payout ratio of 147.9%, which means the company currently can’t support its dividend from earnings alone and relies on its balance sheet to support its dividend payments. Equity analysts expect Alexandria Real Estate Equities to earn $9.17 per share over the next year, meaning the company should still be able to pay its $4.60 annual dividend with an expected future payout ratio of 50.2 % cover up.
Shares of NYSE:ARE fell $1.86 during Tuesday trading to hit $166.73. 2,366 shares of the Company were exchanged compared to an average volume of 1,055,852. The stock has a market cap of $27.21 billion, a P/E of 60.43, a PEG ratio of 2.60, and a beta of 0.84. The company has a leverage ratio of 0.51, a current ratio of 0.40 and a quick ratio of 0.40. Alexandria Real Estate Equities has a 12-month low of $156.94 and a 12-month high of $224.95. The company’s 50-day moving average price is $184.46 and its 200-day moving average price is $195.39.
Alexandria Real Estate Equities (NYSE:ARE – Get Rating) last released its quarterly earnings results on Monday, April 25th. The Real Estate Investment Trust reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.71). Alexandria Real Estate Equities had a net margin of 18.30% and a return on equity of 2.28%. The company had revenue of $615.10 million for the quarter, compared to analysts’ expectations of $595.35 million. In the same quarter last year, the company earned $1.91 per share. The company’s revenue for the quarter increased 28.2% compared to the same quarter last year. As a group, equities research analysts expect Alexandria Real Estate Equities to post 8.4 EPS for the year to date.
In other news, CEO Stephen Richardson sold 5,000 shares of the stock in a transaction Monday, May 9th. The shares sold at an average price of $171.47 for a total value of $857,350.00. Upon completion of the transaction, the Chief Executive Officer now owns 175,602 shares of the Company, valued at approximately $30,110,474.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In addition, Director James P. Cain sold 425 shares of the stock in a transaction on Wednesday, March 16. The shares sold at an average price of $193.26 for a total transaction of $82,135.50. The disclosure for this sale can be found here. Insiders sold a total of 7,290 shares of the company’s stock valued at $1,292,996 over the past three months. 0.96% of the shares are currently owned by company insiders.
A number of major investors have recently bought and sold shares in ARE. Morgan Stanley increased its holdings in Alexandria Real Estate Equities by 12.5% in the second quarter. Morgan Stanley now owns 929,218 shares of the Real Estate Investment Trust worth $169,062,000 after purchasing an additional 103,536 shares last quarter. LPL Financial LLC increased its stake in Alexandria Real Estate Equities by 15.8% during the fourth quarter. LPL Financial LLC now owns 17,764 shares of Real Estate Investment Trust valued at $3,961,000 after purchasing an additional 2,426 shares last quarter. DE Shaw & Co. Inc. increased its stake in Alexandria Real Estate Equities by 16.7% in the fourth quarter. DE Shaw & Co. Inc. now owns 30,291 shares of the Real Estate Investment Trust worth $6,754,000 after purchasing an additional 4,336 shares last quarter. Marshall Wace LLP acquired a new interest in shares of Alexandria Real Estate Equities valued at approximately $6,199,000 during the fourth quarter. Finally, Stifel Financial Corp increased its position in shares of Alexandria Real Estate Equities by 6.0% during the fourth quarter. Stifel Financial Corp now owns 18,603 shares of the Real Estate Investment Trust valued at $4,147,000 after purchasing an additional 1,047 shares last quarter. Hedge funds and other institutional investors own 94.49% of the company’s shares.
Several analysts have recently commented on ARE stock. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. TheStreet downgraded shares of Alexandria Real Estate Equities from a “b-” rating to a “c+” rating in a research report on Friday, March 11. One investment analyst has assigned a sell rating to the stock, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Alexandria Real Estate Equities currently has a consensus rating of Buy and an average price target of $180.80.
Alexandria Real Estate Equities Company Profile (received rating)
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500®– Urban Office Investment Trust (“REIT”), is the first, longest-serving and pioneering owner, operator and developer with a unique focus on collaborative life science, technology and agtech campuses in locations of AAA innovation clusters with a total market capitalization of $31.9 billion as of December 31, 2020 and a North American asset base of 49.7 million square feet (“SF”)).
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