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.
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.
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.