Alexandria Real Estate Equities, Inc. Announces Quarterly Dividend of $1.32 (NYSE:ARE)

Alexandria Real Estate Equities, Inc. (NYSE:ARE) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 1.32 per share by the real estate investment trust on Tuesday, April 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.21%.

Alexandria Real Estate Equities has raised its dividend payment by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Alexandria Real Estate Equities has a payout ratio of 128.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alexandria Real Estate Equities to earn $9.62 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 54.9%.

Alexandria Real Estate Equities Stock Performance

NYSE ARE opened at $101.39 on Tuesday. The stock has a market cap of $17.55 billion, a PE ratio of 56.33, a P/E/G ratio of 3.93 and a beta of 1.16. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities has a twelve month low of $93.25 and a twelve month high of $130.14. The stock has a fifty day simple moving average of $97.94 and a 200-day simple moving average of $108.26.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $1.48. Alexandria Real Estate Equities had a return on equity of 1.43% and a net margin of 10.36%. Equities analysts anticipate that Alexandria Real Estate Equities will post 9.32 earnings per share for the current year.

Alexandria Real Estate Equities declared that its board has authorized a share repurchase program on Monday, December 9th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $104.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and issued a $130.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut Alexandria Real Estate Equities from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $133.00 to $121.00 in a research note on Wednesday, November 27th. Royal Bank of Canada decreased their price objective on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research note on Tuesday, December 17th. Finally, Robert W. Baird cut their target price on Alexandria Real Estate Equities from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alexandria Real Estate Equities has a consensus rating of “Hold” and a consensus price target of $121.30.

About Alexandria Real Estate Equities

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.