Alexandria Real Estate Equities Inc (NYSE:ARE) declared a quarterly dividend on Tuesday, March 7th. Shareholders of record on Friday, March 31st will be given a dividend of 0.83 per share by the real estate investment trust on Monday, April 17th. This represents a $3.32 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, March 29th.
Alexandria Real Estate Equities (NYSE:ARE) opened at 110.41 on Tuesday. The firm’s 50-day moving average is $114.33 and its 200 day moving average is $110.03. The firm’s market cap is $9.81 billion. Alexandria Real Estate Equities has a 12-month low of $88.22 and a 12-month high of $120.96.
Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings data on Monday, January 30th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $1.15. The business had revenue of $249.20 million for the quarter, compared to analyst estimates of $181.32 million. Alexandria Real Estate Equities had a negative net margin of 8.78% and a negative return on equity of 0.78%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. Equities research analysts predict that Alexandria Real Estate Equities will post $1.62 EPS for the current year.
Several research analysts have recently weighed in on the stock. Evercore ISI upgraded shares of Alexandria Real Estate Equities from an “in-line” rating to an “outperform” rating and set a $123.00 price objective on the stock in a report on Tuesday, March 21st. Mizuho reiterated a “buy” rating and set a $125.00 price objective on shares of Alexandria Real Estate Equities in a report on Monday, March 20th. Zacks Investment Research lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a report on Tuesday, March 14th. Finally, Barclays PLC cut their price objective on shares of Alexandria Real Estate Equities from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Alexandria Real Estate Equities presently has an average rating of “Buy” and an average price target of $117.25.
In related news, CFO Dean A. Shigenaga sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $110.55, for a total value of $3,869,250.00. Following the transaction, the chief financial officer now owns 110,299 shares in the company, valued at $12,193,554.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joel S. Marcus sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $108.52, for a total transaction of $1,410,760.00. Following the completion of the transaction, the chief executive officer now owns 723,619 shares in the company, valued at approximately $78,527,133.88. The disclosure for this sale can be found here. Insiders sold 84,000 shares of company stock worth $9,389,825 in the last 90 days. 1.60% of the stock is currently owned by insiders.
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About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc is a real estate investment (REIT). The Company is engaged in the business of providing space for lease to the life science and technology industries. It focuses on collaborative life science and technology campuses. It develops urban cluster campuses and ecosystems.
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