Alexandria Real Estate rises on new share buyback program

Shares of real estate investment trust Alexandria Real Estate Equities ARE.N rise nearly 1% to about $46 premarket

ARE announces share repurchase authorization of up to$500 million of its outstanding shares of common stock until December 31, 2026

New program replaces the current repurchase authorization for up to $500 million set to expire on December 31, 2025

Under the current program, co repurchased $258.2 million of its shares, par value $0.01 per share, primarily in January 2025

As of last close, shares down 53.4% YTD