Business Daily: Alexandria Real Estate Equities, Inc. (NYSE:ARE) Declares Quarterly Dividend of $1.32 - ETF Daily News

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Alexandria Real Estate Equities, Inc. (NYSE:ARE) Declares Quarterly Dividend of $1.32 - ETF Daily News

Posted by MarketBeat News on Dec 29th, 2024

Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Free Report) declared a quarterly dividend on Monday, December 9th,RTT News reports. Shareholders 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 yield of 5.37%. The ex-dividend date 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 increased its dividend by an average of 16.2% per year over the last three years and has increased its dividend every year for the last 15 years. Alexandria Real Estate Equities has a payout ratio of 159.5% 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 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 Stock Down 1.3 %

Shares of Alexandria Real Estate Equities stock opened at $98.35 on Friday. Alexandria Real Estate Equities has a 52-week low of $97.14 and a 52-week high of $131.36. The firm's 50 day moving average price is $107.72 and its 200-day moving average price is $114.71. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.56. The company has a market cap of $17.19 billion, a P/E ratio of 59.97, a PEG ratio of 3.87 and a beta of 1.14.

Alexandria Real Estate Equities announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARE. BMO Capital Markets upgraded shares of Alexandria Real Estate Equities to a "hold" rating in a report on Wednesday, September 25th. Wedbush reissued an "outperform" rating and set a $110.00 target price (down previously from $120.00) on shares of Alexandria Real Estate Equities in a research report on Friday, December 6th. JMP Securities decreased their price target on shares of Alexandria Real Estate Equities from $140.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Alexandria Real Estate Equities from $125.00 to $114.00 and set a "sector perform" rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup lowered Alexandria Real Estate Equities from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $130.00 to $125.00 in a research note on Friday, September 13th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $124.82.

Read Our Latest Research Report on Alexandria Real Estate Equities

About Alexandria Real Estate Equities

(Get Free Report)

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.

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