$1.79 EPS Expected for Alexandria Real Estate Equities Inc (NYSE:ARE) This Quarter
Brokerages expect Alexandria Real Estate Equities Inc (NYSE:ARE) to announce earnings per share (EPS) of $1.79 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Alexandria Real Estate Equities’ earnings, with the lowest EPS estimate coming in at $1.75 and the highest estimate coming in at $1.83. Alexandria Real Estate Equities reported earnings per share of $1.73 in the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The business is expected to announce its next earnings report after the market closes on Monday, July 27th.
On average, analysts expect that Alexandria Real Estate Equities will report full-year earnings of $7.27 per share for the current fiscal year, with EPS estimates ranging from $7.22 to $7.34. For the next fiscal year, analysts expect that the firm will post earnings of $7.48 per share, with EPS estimates ranging from $7.38 to $7.60. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Alexandria Real Estate Equities.
Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($1.62). The business had revenue of $439.90 million for the quarter, compared to the consensus estimate of $415.63 million. Alexandria Real Estate Equities had a net margin of 15.68% and a return on equity of 2.64%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS.
Shares of NYSE ARE traded down $0.37 during mid-day trading on Monday, reaching $165.04. 1,145,900 shares of the company traded hands, compared to its average volume of 1,038,208. Alexandria Real Estate Equities has a fifty-two week low of $109.22 and a fifty-two week high of $175.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $20.83 billion, a PE ratio of 77.85, a price-to-earnings-growth ratio of 5.54 and a beta of 0.83. The stock has a fifty day simple moving average of $158.16 and a 200-day simple moving average of $155.67.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.06 dividend. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.24 annualized dividend and a yield of 2.57%. Alexandria Real Estate Equities’s payout ratio is 60.92%.
In related news, COO Lawrence J. Diamond sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.79, for a total value of $233,685.00. Following the completion of the transaction, the chief operating officer now owns 72,955 shares of the company’s stock, valued at approximately $11,365,659.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Cunningham sold 2,678 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $152.71, for a total transaction of $408,957.38. Following the completion of the transaction, the director now directly owns 50,449 shares of the company’s stock, valued at approximately $7,704,066.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,053 shares of company stock worth $9,340,755. 1.12% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Alexandria Real Estate Equities by 31.2% in the first quarter. The Manufacturers Life Insurance Company now owns 141,643 shares of the real estate investment trust’s stock valued at $19,414,000 after buying an additional 33,724 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Alexandria Real Estate Equities by 98.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,926 shares of the real estate investment trust’s stock valued at $1,223,000 after buying an additional 4,426 shares in the last quarter. Korea Investment CORP boosted its position in Alexandria Real Estate Equities by 13.1% in the first quarter. Korea Investment CORP now owns 342,200 shares of the real estate investment trust’s stock valued at $46,902,000 after buying an additional 39,768 shares in the last quarter. Telemus Capital LLC acquired a new position in Alexandria Real Estate Equities in the first quarter valued at about $769,000. Finally, Nuveen Asset Management LLC boosted its position in Alexandria Real Estate Equities by 17.4% in the first quarter. Nuveen Asset Management LLC now owns 2,139,250 shares of the real estate investment trust’s stock valued at $293,206,000 after buying an additional 316,389 shares in the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.
About Alexandria Real Estate Equities
Alexandria Real Estate Equities, Inc (NYSE:ARE), an S&P 500<sup>®</sup> 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 $21.8 billion and an asset base in North America of 33.7 million square feet ("SF") as of March 31, 2019.
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