PASADENA, Calif.—Madeleine Thorp, Executive Vice President of Talent Management at Alexandria Real Estate Equities , Inc. (NYSE:ARE), recently sold shares of the company in a transaction valued at $446,202. According to a filing with the Securities and Exchange Commission, Thorp disposed of 4,360 shares of common stock on December 16 at a price of $102.34 per share. The transaction comes as the $17.9 billion real estate investment trust trades near its 52-week low, with InvestingPro data showing the stock has fallen about 18.8% over the past year.
Following this transaction, Thorp retains ownership of 22,067 shares in the company. Additionally, on December 13, 3,356 shares were withheld by the issuer to satisfy a tax obligation upon the vesting of restricted stock, valued at $344,526 at a price of $102.66 per share. Despite recent price weakness, InvestingPro analysis highlights ARE's strong dividend profile, with 28 consecutive years of dividend payments and a current yield of 5.21%. For deeper insights into ARE's valuation and 10+ additional ProTips, visit InvestingPro.
In other recent news, Alexandria Real Estate Equities exhibited a strong third-quarter performance in 2024, with a significant 48% increase in leasing activity. The company's Funds From Operations (FFO) per share rose to $2.37, marking a 4.9% increase from the previous year, while total revenues and net operating income (NOI) increased by 10.9% and 12.5%, respectively. However, several analysts have adjusted their outlooks on the company. RBC (TSX:RY) Capital Markets reduced its price target to $114 but maintained a Sector Perform rating, while Mizuho (NYSE:MFG) Securities lowered its price target to $121, maintaining an Outperform rating. JPMorgan (NYSE:JPM) and Deutsche Bank (ETR:DBKGn) downgraded the stock from Overweight to Neutral and Buy to Hold respectively, both citing concerns about the company's future earnings. Jefferies also maintained a Hold rating but reduced the price target to $114. In addition to these adjustments, Alexandria Real Estate Equities announced a stock repurchase program authorizing the buyback of up to $500 million of its common stock. These recent developments reflect shifts in the financial landscape for Alexandria Real Estate Equities.
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