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Alexandria Real Estate Equities, 6.45% Series E Cumul Redeem Preferred Stock
Ticker Symbol: ARE-E* CUSIP: 015271703 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/14/2017
Security has been Called for: Friday, April 14, 2017
March 9, 2017 -- Alexandria Real Estate Equities, Inc. announced today that it will redeem all 5,200,000 of its outstanding shares of 6.45% Series E Cumulative Redeemable Preferred Stock (NYSE:ARE PrE) (CUSIP 015271703) on April 14, 2017. The Series E Preferred Stock will be redeemed at a redemption price of $25.00 per share. As previously announced, the $0.403125 per share dividend on the Series E Preferred Stock for the first quarter of 2017 will be paid separately on April 17, 2017 to holders of record of the Series E Preferred Stock as of March 31, 2017. The notice of redemption will be mailed to record holders of the shares of the Series E Preferred Stock on or about March 9, 2017. Questions regarding the redemption of the Series E Preferred Stock should be directed to the redemption agent, American Stock Transfer & Trust Company, LLC at 6201 15th Avenue, Brooklyn, New York 11219 or by telephone at 877-248-6417 or 718-921-8317.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Alexandria Real Estate Equities, 6.45% Series E Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 3/15/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.45% ($1.6125) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed listed on the NYSE, the AMEX or the Nasdaq exchanges, the company will have the option to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will not have the following conversion right. Upon the occurrence of a change of control, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ARE)
IPO - 3/9/2012 - 5.20 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: AREEO Changed: 3/15/2012
Market Value $134.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 385 East Colorado Boulevard, Suite 299, Pasadena, CA 91101 |
| Main Phone Number |
626-578-0777 |
| Fax Number |
626-578-0896 |
| Investor Contact (CEO)
Joel S. Marcus
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626-396-4828
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Toll Free Phone Number |
Unknown |
| CEO - Joel S. Marcus |
CFO - Dean A. Shigenaga |
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