Stock News Update: Alexandria Real Estate Equities, Inc. (NYSE: ARE)

Alexandria Real Estate Equities, Inc. (NYSE: ARE) stock identified change of 37.56% away from 52-week low price and recently located move of -2.29% off 52-week high price. It has market worth of $16959.37M and dividend yield of 2.67%. ARE stock has been recorded 3.42% away from 50 day moving average and 9.48% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.44% off 20-day moving average.

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced that it is commencing an underwritten public offering, subject to market conditions, of two tranches of senior notes (the “notes”). One tranche will be a new issue of securities, while the other tranche will become part of the same series as the Company’s outstanding 4.000% senior notes due 2050, of which $500 million aggregate principal amount was originally issued on July 15, 2019. J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC and TD Securities (USA) LLC will act as joint book-running managers in connection with the public offering. The notes will be unsecured obligations of the Company and fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P., an indirectly 100% owned subsidiary of the Company.

 

The Company expects the net proceeds from the notes in this offering will be used to repay the outstanding balance on its unsecured senior bank term loan and to reduce the outstanding balance on its unsecured senior line of credit, with any remaining proceeds to be used for general corporate purposes.

 

The notes are being offered pursuant to an effective registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The Financial sector company, Alexandria Real Estate Equities noticed change of 0.10% to $149.99 along volume of 552718 shares in recent session compared to an average volume of 819.82K. The stock observed return of 1.87% in 5 days trading activity. The stock was at 3.53% over one month performance. ARE’s shares are at 1.94% for the quarter and driving a 17.78% return over the course of the past year and is now at 30.15% since this point in 2018.

The average volatility for the week at 1.20% and for month was at 1.66%. There are 113.07M shares outstanding and 111.94M shares are floated in market. Right now the stock beta is 0.75.

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