(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE), a Real Estate Investment Trust, on Monday announced that the Board has authorized a new stock repurchase program of up to $500 million, replacing the prior program set to expire on December 31.
Under the previous program, the company repurchased $258.2 million of its shares, primarily in January 2025.
The company said stock repurchases, if any, are expected to be funded on a leverage-neutral basis using net cash from operating activities after dividends and proceeds from real estate dispositions or joint ventures.
In the pre-market trading, Alexandria Real Estate Equities is 1.01% higher at $45.95 on the New York Stock Exchange.
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