Investing

This Is the Highest Paying Company in America

Almost no one has heard of Alexandria Real Estate Equities, but it was the highest-paying company in America last year, based on an analysis of S&P 500 companies. The median worker pay for its 470 workers was $295,136, an increase of 90% from 2019.

The data on the pay figures comes from MyLogIQ, which provided it to The Wall Street Journal. One Alexandria Real Estate Equities chief executive officer made about 27 times what Stephen A. Richardson, co-CEO, did. Joel S. Marcus is executive board chair and founder.

Alexandria Real Estate Equities describes its business this way: “We own, operate, and develop collaborative life science, agtech, and technology campuses in the top urban innovation clusters in North America.” Its mission statement is odd: “To create and grow clusters that ignite and accelerate the world’s leading innovators in their noble pursuit to advance human health by curing disease and improving nutrition.” What is a “growth cluster” and how does it enable “noble pursuits”?

The company also describes itself as a garage startup, which is unlikely. Named after Alexandria, Egypt, it was started 27 years ago.

Last year, “Net income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders – basic and diluted” was $761 million, which was up from $352 million in the same period the year before.

Alexandria Real Estate Equities’ share price has been decidedly mediocre. Over the past two years, it is up 31%, compared to 77% for the S&P 500 in that time. The company’s market cap is $28 billion, impressive for a company with fewer than 5,000 employees.

Its stock is a yield play and a good one at that. The company just announced:

Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced that its Board of Directors declared a quarterly cash dividend of $1.12 per common share for the second quarter of 2021. The dividend is payable on July 15, 2021, to shareholders of record on June 30, 2021. The common stock dividend for the 12 months ending June 30, 2021, of $4.36 per common share represents an increase of 24 cents, or 6 percent, over the 12 months ended June 30, 2020.

Click here to read about the 25 highest-paying jobs in America.