Market News

Alexandria Real Estate Rewards Shareholders with 5.5% Dividend Hike

Urban office focused real estate investment trust Alexandria Real Estate Equities, Inc. (ARE) recently announced a quarterly dividend of $1.15 per share, an increase of about 5.5% from the previous dividend of $1.09.

The dividend will be paid on January 14, 2022, to shareholders of record as of December 31, 2021.

Dividend Yield

The company’s annual dividend of $4.6 per share now reflects a dividend yield of 2.3% based on Monday’s closing price.

Notably, the company has been raising its quarterly dividend consistently over the past eight years, making it an attractive choice for investors.

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Price Target

Recently, Evercore ISI analyst Sheila McGrath assigned a Buy rating to the stock. The analyst, however, raised the price target from $234 to $236, which implies upside potential of 14.5% from current levels.

Consensus among analysts is a Strong Buy based on 5 unanimous Buys. The average Alexandria Real Estate price target of $229.20 implies upside potential of 11.3% from current levels. Shares have gained 20.5% over the past year.

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