PASADENA, Calif., March 5,
2018 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE:
ARE), an urban office real estate investment trust ("REIT")
uniquely focused on collaborative life science and technology
campuses in AAA innovation cluster locations, announced today that
its Board of Directors declared a quarterly cash dividend of
90 cents per common share for the
first quarter of 2018. The dividend is payable on April 16,
2018, to shareholders of record on March 29, 2018. The common
stock dividend for the first quarter of 2018 of 90 cents per common share represents an increase
of 7 cents, or 8 percent, over the
first quarter of 2017.
"We are very pleased to announce the quarterly cash dividend to
common shareholders of 90 cents per
common share for the first quarter of 2018. The dividend allows the
Company to share our continued high-quality, strong and increasing
cash flows from operations with our common shareholders while we
retain significant cash flows from operating activities for
reinvestment into our highly leased pipeline of development and
redevelopment of new Class A properties. Additionally, our funds
from operations payout ratio (quarterly common stock dividend
divided by quarterly funds from operations) remains favorably low
at 61 percent for the three months ended December 31, 2017.
Growth in net cash flows provided by operating activities after
dividends continues to generate additional opportunities to grow
our quarterly cash dividend per common share while we maintain a
low funds from operations payout ratio," said Joel S. Marcus, chairman, chief executive
officer and founder of Alexandria Real Estate Equities, Inc.
The Company also announced today that its Board of Directors
declared a quarterly cash dividend of 43.75
cents per share for the first quarter of 2018 for its 7
percent Series D Cumulative Convertible Preferred Stock. The
dividend is payable on April 16, 2018, to preferred
shareholders of record on March 29, 2018.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is an urban office REIT uniquely focused
on collaborative life science and technology campuses in AAA
innovation cluster locations, with a total market capitalization of
$17.9 billion and an asset base in
North America of 29.6 million SF
as of December 31, 2017. The asset base in North America includes 22.0 million RSF of
operating properties, including 1.7 million RSF of development and
redevelopment of new Class A properties currently undergoing
construction. Additionally, the asset base in North America includes 7.6 million SF of
future development projects, including 1.6 million SF of near-term
projects undergoing marketing for lease and pre-construction
activities and 3.8 million SF of intermediate-term development
projects. Founded in 1994, Alexandria pioneered this niche and has since
established a significant market presence in key locations,
including Greater Boston,
San Francisco, New York City, San
Diego, Seattle,
Maryland and Research Triangle
Park. Alexandria has a
longstanding and proven track record of developing Class A
properties clustered in urban life science and technology campuses
that provide its innovative tenants with highly dynamic and
collaborative environments that enhance their ability to
successfully recruit and retain world-class talent and inspire
productivity, efficiency, creativity and success. Alexandria also provides strategic risk
capital to transformative life science and technology companies
through its venture capital arm. We believe our unique business
model and diligent underwriting ensure a high-quality and diverse
tenant base that results in higher occupancy levels, longer lease
terms, higher rental income, higher returns and greater long-term
asset value. For additional information on Alexandria, please visit www.are.com.
This press release contains forward-looking statements within
the meaning of the federal securities laws. Actual results might
differ materially from those projected in the forward-looking
statements. Additional information concerning factors that could
cause actual results to differ materially from those in the
forward-looking statements is contained in the Company's Annual
Report on Form 10-K and other periodic reports filed with the
Securities and Exchange Commission.
Contact:
|
Joel S.
Marcus
|
|
Chairman, Chief
Executive Officer &
Founder
|
|
Alexandria Real
Estate Equities,
Inc.
|
|
(626)
578-9693
|
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SOURCE Alexandria Real Estate Equities, Inc.