Alexandria Real Estate Equities, Inc. (NYSE:ARE) declared a quarterly dividend on Tuesday, June 6th, Wall Street Journal reports. Shareholders of record on Friday, June 30th will be given a dividend of 0.86 per share by the real estate investment trust on Monday, July 17th. This represents a $3.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, June 28th. This is an increase from Alexandria Real Estate Equities’s previous quarterly dividend of $0.83.
Alexandria Real Estate Equities has increased its dividend by an average of 8.4% per year over the last three years and has increased its dividend every year for the last 6 years. Alexandria Real Estate Equities has a dividend payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alexandria Real Estate Equities to earn $6.65 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 51.7%.
Alexandria Real Estate Equities (NYSE:ARE) traded down 0.88% during trading on Friday, hitting $121.00. The stock had a trading volume of 742,168 shares. Alexandria Real Estate Equities has a 52 week low of $101.51 and a 52 week high of $123.18. The firm’s market cap is $11.02 billion. The company’s 50-day moving average is $119.56 and its 200 day moving average is $115.15.
Alexandria Real Estate Equities (NYSE:ARE) last issued its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $270.90 million for the quarter, compared to the consensus estimate of $261.67 million. Alexandria Real Estate Equities had a positive return on equity of 0.22% and a negative net margin of 5.03%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. Equities analysts expect that Alexandria Real Estate Equities will post $1.62 EPS for the current fiscal year.
In other news, Director Maria C. Freire sold 2,174 shares of Alexandria Real Estate Equities stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $113.30, for a total transaction of $246,314.20. Following the sale, the director now owns 5,464 shares of the company’s stock, valued at approximately $619,071.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter M. Moglia sold 2,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $119.00, for a total value of $238,000.00. Following the completion of the sale, the insider now directly owns 87,867 shares in the company, valued at approximately $10,456,173. The disclosure for this sale can be found here. Insiders have sold a total of 35,674 shares of company stock worth $4,130,859 in the last three months. 1.60% of the stock is owned by insiders.
Several research analysts have commented on the company. Zacks Investment Research downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays PLC lifted their price target on Alexandria Real Estate Equities from $129.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday. BidaskClub downgraded Alexandria Real Estate Equities from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet raised Alexandria Real Estate Equities from a “c” rating to a “b-” rating in a research report on Monday, May 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Alexandria Real Estate Equities has a consensus rating of “Buy” and an average target price of $122.38.
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Alexandria Real Estate Equities Company Profile
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.
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