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Alexandria Real Estate Equities, Inc.

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Alexandria Real Estate Equities, Inc. • NYSE
$53.67 ▲ 0.19% (+0.10)
Market Cap $9.28 B
52w High $110.32
52w Low $48.66
Dividend Yield 5.28%
P/E -21.73
Volume 1.04M
Outstanding Shares 172.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $751.944M ▲ $29.224M ▼ $-234.937M ▼ -31.244% ▼ $-1.38 ▼ $105.293M ▼
Q2-2025 $737.279M ▼ $375.251M ▲ $-107.002M ▼ -14.513% ▼ $-0.64 ▼ $339.23M ▼
Q1-2025 $743.175M ▼ $372.737M ▲ $-8.939M ▲ -1.203% ▲ $-0.067 ▲ $431.6M ▲
Q4-2024 $763.249M ▼ $362.838M ▲ $-62.245M ▼ -8.155% ▼ $-0.38 ▼ $369.672M ▼
Q3-2024 $775.744M $337.943M $167.947M 21.65% $0.96 $551.151M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $579.474M ▲ $37.375B ▼ $16.257B ▲ $16.639B ▼
Q2-2025 $520.545M ▲ $37.624B ▲ $15.885B ▲ $17.175B ▼
Q1-2025 $476.43M ▼ $37.6B ▲ $15.601B ▲ $17.465B ▼
Q4-2024 $552.146M ▼ $37.527B ▼ $15.129B ▼ $17.889B ▼
Q3-2024 $562.606M $38.488B $15.785B $18.218B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-197.845M ▼ $433.478M ▼ $-407.885M ▼ $30.751M ▲ $56.231M ▲ $433.478M ▼
Q2-2025 $-62.189M ▼ $460.241M ▲ $-333.228M ▲ $-82.322M ▼ $44.194M ▲ $460.241M ▲
Q1-2025 $38.662M ▲ $207.949M ▼ $-654.779M ▼ $370.775M ▲ $-76.093M ▼ $207.949M ▼
Q4-2024 $-16.095M ▼ $274.178M ▼ $446.264M ▲ $-738.72M ▼ $-19.79M ▼ $274.178M ▼
Q3-2024 $213.603M $477.392M $-488.48M $24.945M $13.784M $477.392M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product and Service Other
Product and Service Other
 $30.00M ▲$10.00M ▼$20.00M ▲$20.00M ▲
Rental revenues
Rental revenues
 $760.00M ▲$740.00M ▼$2.22Bn ▲$2.95Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Alexandria’s revenue and operating profit have climbed steadily over the past five years, which signals a business that has been successfully adding and leasing out properties in its niche. Profitability at the operating level looks fairly consistent, suggesting that the core leasing model is working and margins are being preserved even as the portfolio grows. Net income, however, has been more up‑and‑down, with some years showing much stronger bottom‑line results than others. For a REIT, this kind of volatility often reflects non‑cash items, property valuation changes, or shifts in financing costs rather than big swings in the underlying business. Overall, the story from the income statement is: solid top‑line growth and stable operating performance, but reported earnings that can move around from year to year.

Balance Sheet

Balance Sheet The balance sheet shows a company that has expanded its asset base significantly over several years, building out a large portfolio of specialized life science properties. Debt has risen alongside that growth, which is typical for a real estate investment trust that funds new developments with borrowing. At the same time, equity has also grown, indicating that the company has been building owner value in its properties rather than relying only on leverage. Cash on hand is modest relative to total assets, again normal for a REIT that depends more on access to credit markets and recurring rent than on large cash balances. The key takeaway is a sizeable and growing property platform supported by meaningful, but also steadily increasing, debt levels—so the balance between growth and leverage is important to watch, especially in a higher‑rate environment.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has trended upward, which is encouraging because it reflects stronger underlying rental and leasing activity. A few years ago, free cash flow was heavily pressured by very large development and capital spending, as the company invested aggressively in building out its campuses. More recently, free cash flow has turned clearly positive, implying that the most intense phase of that investment cycle has eased and more cash is now available after basic capital needs. For a REIT, this shift from heavy build‑out to a more cash‑generative phase often means the portfolio is maturing and starting to “pay back” prior investments. The main risk is that maintaining growth in the long run may require another wave of sizable spending, which would again weigh on free cash flow when that occurs.

Competitive Edge

Competitive Edge Alexandria operates in a very specialized corner of the office market: life science and high‑end R&D space in top innovation hubs. Its campuses are located in highly desirable clusters near leading universities, hospitals, and research institutions, which are difficult and time‑consuming for competitors to replicate. The company’s Megacampus model creates dense ecosystems of biotech, pharma, and technology firms, and this clustering effect makes its properties more valuable to tenants who benefit from proximity, talent pools, and collaboration opportunities. High switching costs further strengthen its position: moving sophisticated lab and research operations is disruptive, expensive, and risky for tenants, which encourages long leases and high renewal rates. Compared with generic office landlords, Alexandria appears better insulated from remote‑work trends, but it is more exposed to the health of the life science funding environment and the fortunes of a relatively concentrated tenant base.

Innovation and R&D

Innovation and R&D Although Alexandria is a landlord, it behaves more like an infrastructure and innovation partner to the life science industry. Its buildings are designed with advanced lab capabilities, heavy data and computing needs, and strict regulatory and safety requirements in mind, which makes them well‑suited to companies using artificial intelligence, complex imaging, and cutting‑edge therapies. The firm is also pushing into green and efficient building technologies—such as alternative energy systems and smart controls—which can lower operating costs and align with tenants’ sustainability goals. Beyond the bricks and mortar, Alexandria’s venture investment arm and its LaunchLabs and GradLabs platforms support early‑stage and scaling biotech companies with space, capital, and services, deepening relationships and keeping the portfolio close to emerging science. This combination of specialized infrastructure, ecosystem support, and capital access is unusual for a REIT and forms a core part of its innovation edge, though it also adds complexity and dependence on the long‑term success of high‑risk biotech ventures.

Summary

Overall, Alexandria Real Estate Equities comes across as a scaled, specialized REIT with a clear focus: high‑quality life science and innovation campuses in top U.S. clusters. Its financials show a pattern of steady revenue and operating growth backed by large past investments, with reported earnings that can be noisy but underlying cash generation that has been improving. The balance sheet reflects a sizeable property base funded with meaningful leverage and a solid equity cushion, making interest rates and credit conditions important external factors. Strategically, the company appears to enjoy a strong competitive position thanks to its prime locations, ecosystem approach, and the high cost and complexity of moving tenants out of its facilities. The main opportunities lie in continued demand for life science space and advanced R&D infrastructure, while key risks include cycles in biotech funding, concentration in a few major markets, and the need to keep investing heavily to stay at the technological and sustainability frontier.

NEWS

November 29, 2025 · 10:41 AM UTC

ARE DEADLINE: Faruqi & Faruqi Reminds Alexandria Real Estate Equities Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of January 26, 2026

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November 29, 2025 · 9:09 AM UTC

ROSEN, A LEADING LAW FIRM, Encourages Alexandria Real Estate Equities, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - ARE

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November 28, 2025 · 2:44 PM UTC

ALEXANDRIA ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Alexandria Real Estate Equities, Inc. and Encourages Investors to Contact the Firm

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November 28, 2025 · 12:00 PM UTC

ARE INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Alexandria Real Estate Equities, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

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November 28, 2025 · 12:00 PM UTC

Securities Fraud Investigation Into Alexandria Real Estate Equities, Inc. (ARE) Announced – Shareholders Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm

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