Alexandria Real Estate Equities, Inc. (ARE) Raises Dividend to $0.90 Per Share
Alexandria Real Estate Equities, Inc. (NYSE:ARE) declared a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.90 per share by the real estate investment trust on Monday, January 15th. This represents a $3.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, December 28th. This is a boost from Alexandria Real Estate Equities’s previous quarterly dividend of $0.86.
Alexandria Real Estate Equities has increased its dividend by an average of 8.4% annually over the last three years and has raised its dividend every year for the last 6 years. Alexandria Real Estate Equities has a dividend payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alexandria Real Estate Equities to earn $6.62 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 52.0%.
Alexandria Real Estate Equities (NYSE ARE) traded up $0.34 during midday trading on Tuesday, hitting $129.03. 837,500 shares of the stock were exchanged, compared to its average volume of 724,619. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.83. Alexandria Real Estate Equities has a 1 year low of $105.74 and a 1 year high of $130.46. The company has a market capitalization of $12,317.93, a P/E ratio of 21.77, a PEG ratio of 3.55 and a beta of 0.84.
ARE has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Mizuho reiterated a “buy” rating and set a $140.00 price objective on shares of Alexandria Real Estate Equities in a research note on Wednesday, November 1st. Bank of America increased their price objective on shares of Alexandria Real Estate Equities from $129.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. National Bank Financial downgraded shares of Alexandria Real Estate Equities from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $20.00 to $18.00 in a research note on Monday, October 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Alexandria Real Estate Equities in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $113.17.
In other Alexandria Real Estate Equities news, CEO Joel S. Marcus sold 13,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $126.91, for a total value of $1,649,830.00. Following the completion of the transaction, the chief executive officer now owns 651,436 shares of the company’s stock, valued at $82,673,742.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas J. Andrews sold 5,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $120.41, for a total transaction of $602,050.00. Following the completion of the transaction, the executive vice president now directly owns 153,000 shares of the company’s stock, valued at approximately $18,422,730. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,000 shares of company stock valued at $7,127,630. 1.51% of the stock is owned by insiders.
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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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