Equities researchers at Zacks Research have lowered their Q4 2023 earnings per share (EPS) estimates for Alexandria Real Estate Equities. They now expect the real estate investment trust to post earnings of $2.29 per share for the quarter, down from their prior forecast of $2.31. The consensus estimate for Alexandria Real Estate Equities’ current full-year earnings is $8.96 per share.
In the previous quarter, Alexandria Real Estate Equities reported earnings of $0.51 per share, missing analysts’ consensus estimates of $2.20 by $1.69. It had a return on equity of 2.54% and a net margin of 20.65%. The company had revenue of $713.90 million during the quarter, compared to the consensus estimate of $700.22 million. The revenue for the same quarter last year was up 10.9%.
Several research analysts have commented on the company recently. Jefferies Financial Group has issued a “buy” rating and a $142.00 price target on the stock. Mizuho lowered their price target from $180.00 to $145.00. StockNews.com downgraded shares of Alexandria Real Estate Equities from a “hold” rating to a “sell” rating. Royal Bank of Canada cut their price target from $198.00 to $166.00. Evercore ISI also decreased their target price from $141.00 to $137.00.
Alexandria Real Estate Equities stock opened at $122.43 on Wednesday. It has a twelve month low of $108.81 and a twelve month high of $172.65. The company has a market capitalization of $21.18 billion, a P/E ratio of 36.33, and a beta of 0.93. It has a quick ratio of 0.39 and a current ratio of 0.39, with a debt-to-equity ratio of 0.49.
The company recently announced a quarterly dividend of $1.24 per share, compared to the previous quarterly dividend of $1.21. The ex-dividend date was Thursday, June 29th. Institutional investors such as BlackRock Inc., Norges Bank, and State Street Corp have added stakes in Alexandria Real Estate Equities.
Alexandria Real Estate Equities, Inc. is an S&P 500 company and a best-in-class, mission-driven life science REIT. It is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology campuses in prominent innovation cluster locations.