Alexandria Real Estate Equities, Inc. (ARE) to Issue Quarterly Dividend of $1.32 on January 15th

Alexandria Real Estate Equities, Inc. (NYSE:ARE) declared a quarterly dividend on Monday, December 9th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 1.32 per share by the real estate investment trust on Wednesday, January 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $1.30.

Alexandria Real Estate Equities has raised its dividend payment by an average of 16.2% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Alexandria Real Estate Equities has a payout ratio of 159.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alexandria Real Estate Equities to earn $9.31 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 56.7%.

Alexandria Real Estate Equities Trading Down 1.3 %

Shares of ARE stock opened at $98.35 on Friday. The company has a market cap of $17.19 billion, a PE ratio of 59.97, a price-to-earnings-growth ratio of 3.87 and a beta of 1.14. Alexandria Real Estate Equities has a 1 year low of $97.14 and a 1 year high of $131.36. The stock’s 50 day simple moving average is $107.72 and its two-hundred day simple moving average is $114.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.20 and a quick ratio of 0.20.

Alexandria Real Estate Equities (NYSE:ARE) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($1.42). The company had revenue of $791.60 million for the quarter, compared to analysts’ expectations of $766.97 million. Alexandria Real Estate Equities had a net margin of 9.62% and a return on equity of 1.31%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 EPS. Research analysts predict that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Alexandria Real Estate Equities declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARE. BMO Capital Markets raised shares of Alexandria Real Estate Equities to a “hold” rating in a research report on Wednesday, September 25th. Evercore ISI decreased their price target on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Citigroup downgraded Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $130.00 to $125.00 in a research report on Friday, September 13th. JMP Securities decreased their target price on Alexandria Real Estate Equities from $140.00 to $130.00 and set a “market outperform” rating for the company in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and lowered their target price for the company from $135.00 to $112.00 in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $124.82.

Alexandria Real Estate Equities Company Profile

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.