A Bear Market Gift: This Top-Notch Dividend Stock Is Down 38%
The bear market in stocks is causing shares of most companies to decline by more than 20%. Some are down even more. Alexandria Real Estate Equities' (NYSE: ARE) stock price has plummeted roughly 38% from its recent peak.
The sell-off in Alexandria is a gift for dividend-seeking investors. With its stock price tumbling, the real estate investment trust's (REIT) dividend yield has risen to 3.4%. That's roughly double the dividend yield of the average stock in the S&P 500, which is around 1.7%. It's an attractive income stream, especially since it's coming from a company that should have no problem continuing to grow its dividend in the future.
Despite the plunging stock price, Alexandria Real Estate Equities is having another great year. The REIT has produced $6.28 per share of funds from operations (FFO) during the first nine months of 2022. That's 8.3% above its total in the same period of 2021. A big driver is the continued strong demand for laboratory space by the life science industry.
Source Fool.com
