PASADENA, Calif., Dec. 9, 2024
/PRNewswire/ -- Alexandria Real Estate Equities, Inc.
("Alexandria" or the "Company")
(NYSE: ARE) today announced that the Company's Board of Directors
authorized a common stock repurchase program. Under the program,
the Company may purchase up to $500,000,000 of its outstanding shares of common
stock, par value $0.01 per share
("Common Stock"), until December 31,
2025 from time to time in the open market or otherwise
(including in negotiated transactions, in open market transactions,
through accelerated share repurchase, through indirect purchases of
Common Stock such as by using derivatives or in other
transactions). The specific timing, price and size of purchases
will depend on prevailing stock prices, general economic and market
conditions and other considerations. The stock repurchase program
does not obligate the Company to repurchase any dollar amount or
number of shares of Common Stock and may be suspended or
discontinued at any time. Stock repurchases through December 31, 2025, if any, are expected to be
funded on a leverage neutral basis with net cash provided by
operating activities after dividends and proceeds from asset
sales.
About Alexandria Real Estate Equities,
Inc.
Alexandria, an S&P
500® company, is a best-in-class, mission-driven life
science REIT making a positive and lasting impact on the world. As
the pioneer of the life science real estate niche since its
founding in 1994, Alexandria is
the preeminent and longest-tenured owner, operator, and developer
of collaborative Megacampus™ ecosystems in AAA life
science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. For more information on
Alexandria, please
visit www.are.com.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements include, without limitation, statements regarding the
Company's stock repurchase program. These forward-looking
statements are based on the Company's present intent, beliefs or
expectations, but forward-looking statements are not guaranteed to
occur and may not occur. Actual results may differ materially from
those contained in or implied by the Company's forward-looking
statements as a result of a variety of factors, including, without
limitation, the risks and uncertainties detailed in its filings
with the Securities and Exchange Commission. All forward-looking
statements are made as of the date of this press release, and the
Company assumes no obligation to update this information. For more
discussion relating to risks and uncertainties that could cause
actual results to differ materially from those anticipated in the
Company's forward-looking statements, and risks and uncertainties
to the Company's business in general, please refer to the Company's
filings with the Securities and Exchange Commission, including its
most recent annual report on Form 10-K and any subsequently filed
quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, Senior
Vice President – Chief Content Officer, (626) 788-5578,
skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.
