$244.33 Million in Sales Expected for Alexandria Real Estate Equities, Inc. (ARE) This Quarter

Wall Street brokerages predict that Alexandria Real Estate Equities, Inc. (NYSE:ARE) will announce sales of $244.33 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Alexandria Real Estate Equities’ earnings. The lowest sales estimate is $214.56 million and the highest is $274.10 million. Alexandria Real Estate Equities reported sales of $226.08 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings report on Monday, August 7th.

According to Zacks, analysts expect that Alexandria Real Estate Equities will report full-year sales of $244.33 million for the current fiscal year, with estimates ranging from $872.96 million to $1.12 billion. For the next financial year, analysts expect that the company will post sales of $1.13 billion per share, with estimates ranging from $1.00 billion to $1.26 billion. Zacks’ sales averages 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, May 1st. The real estate investment trust reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. Alexandria Real Estate Equities had a negative net margin of 5.03% and a positive return on equity of 0.22%. The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $261.67 million. During the same quarter last year, the firm posted $1.34 earnings per share. The company’s quarterly revenue was up 25.4% compared to the same quarter last year.

Several analysts recently weighed in on the company. Barclays PLC raised their price objective on Alexandria Real Estate Equities from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Zacks Investment Research lowered Alexandria Real Estate Equities from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. BidaskClub raised Alexandria Real Estate Equities from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet raised Alexandria Real Estate Equities from a “c” rating to a “b-” rating in a research note on Monday, May 1st. Finally, Mizuho reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Alexandria Real Estate Equities in a research note on Monday, March 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $118.88.

In other news, insider Peter M. Moglia sold 2,000 shares of Alexandria Real Estate Equities stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $119.27, for a total transaction of $238,540.00. Following the sale, the insider now directly owns 85,867 shares of the company’s stock, valued at $10,241,357.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Richardson sold 4,000 shares of Alexandria Real Estate Equities stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $117.89, for a total value of $471,560.00. Following the sale, the director now directly owns 61,000 shares in the company, valued at $7,191,290. The disclosure for this sale can be found here. Insiders have sold 35,924 shares of company stock worth $4,158,244 over the last three months. Insiders own 1.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Alexandria Real Estate Equities by 4.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,040 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 41 shares in the last quarter. 1st Global Advisors Inc. raised its position in Alexandria Real Estate Equities by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 5,368 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 57 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Alexandria Real Estate Equities by 5.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,118 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 100 shares in the last quarter. Stifel Financial Corp raised its position in Alexandria Real Estate Equities by 2.8% in the first quarter. Stifel Financial Corp now owns 3,637 shares of the real estate investment trust’s stock worth $402,000 after buying an additional 100 shares in the last quarter. Finally, Atria Investments LLC raised its position in Alexandria Real Estate Equities by 5.2% in the first quarter. Atria Investments LLC now owns 2,369 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 117 shares in the last quarter.

ILLEGAL ACTIVITY NOTICE: “$244.33 Million in Sales Expected for Alexandria Real Estate Equities, Inc. (ARE) This Quarter” was first published by BBNS and is the sole property of of BBNS. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://baseballnewssource.com/markets/244-33-million-in-sales-expected-for-alexandria-real-estate-equities-inc-are-this-quarter-updated-updated-updated/1093224.html.

Shares of Alexandria Real Estate Equities (NYSE:ARE) traded down 0.16% during trading on Thursday, reaching $120.60. 1,661,088 shares of the company were exchanged. The stock’s market capitalization is $10.98 billion. The company has a 50 day moving average price of $117.18 and a 200-day moving average price of $113.61. Alexandria Real Estate Equities has a one year low of $96.63 and a one year high of $121.25.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, June 28th. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently -198.80%.

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.

Get a free copy of the Zacks research report on Alexandria Real Estate Equities (ARE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alexandria Real Estate Equities Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alexandria Real Estate Equities Inc. and related companies with our FREE daily email newsletter.

Leave a Reply

Your email address will not be published.

seven + 20 =