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 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 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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.