ARE Stock - Alexandria Real Estate Equities, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $3.05B | $2.84B | $2.58B | $2.11B | $1.89B |
| Gross Profit | $2.14B | $1.98B | $1.79B | $1.48B | $1.36B |
| Gross Margin | 70.2% | 69.8% | 69.6% | 70.4% | 72.0% |
| Operating Income | $769.70M | $690.45M | $613.46M | $512.17M | $1.23B |
| Net Income | $322.95M | $103.64M | $521.66M | $571.25M | $770.96M |
| Net Margin | 10.6% | 3.6% | 20.3% | 27.1% | 40.7% |
| EPS | $1.80 | $0.54 | $3.18 | $2.84 | $4.69 |
Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® urban office real estate investment trust (REIT), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (SF). The asset base in North America includes 31.9 million RSF of operating properties and 3.3 million RSF of Class A properties undergoing construction, 7.1 million RSF of near-term and intermediate-term development and redevelopment projects, and 7.4 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology, and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. Alexandria also provides strategic capital to transformative life science, technology, and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 13th 2025 | Citizens JMP | Downgrade | Market Perform | - |
| October 29th 2025 | BTIG Research | Downgrade | Neutral | - |
| October 6th 2025 | Jefferies | Initiation | Hold | $80 |
| October 1st 2025 | Cantor Fitzgerald | Initiation | Neutral | $88 |
| October 1st 2025 | BNP Paribas Exane | Downgrade | Underperform | - |
| September 23rd 2025 | BMO Capital Markets | Initiation | Outperform | $100 |
| September 15th 2025 | Evercore ISI | Upgrade | Outperform | $104 |
| March 17th 2025 | Jefferies | Initiation | Hold | $100 |
| November 27th 2024 | JP Morgan | Downgrade | Neutral | $121← $133 |
| November 15th 2024 | Deutsche Bank | Downgrade | Hold | $112← $135 |
| October 25th 2024 | RBC Capital Mkts | Downgrade | Sector Perform | $125← $130 |
| September 13th 2024 | Citigroup | Downgrade | Neutral | $125← $130 |
| August 2nd 2024 | Jefferies | Downgrade | Hold | $127← $136 |
| July 29th 2024 | BofA Securities | Downgrade | Neutral | $126← $151 |
| July 25th 2024 | Evercore ISI | Downgrade | In-line | $126← $133 |
Earnings History & Surprises
AREEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Jan 26, 2026 | $2.15 | — | — | — |
Q4 2025 | Oct 27, 2025 | $2.31 | $2.22 | -3.9% | ✗ MISS |
Q3 2025 | Jul 21, 2025 | $2.29 | $2.33 | +1.7% | ✓ BEAT |
Q2 2025 | Apr 28, 2025 | $2.28 | $2.30 | +0.9% | ✓ BEAT |
Q1 2025 | Jan 27, 2025 | $0.91 | $2.39 | +162.6% | ✓ BEAT |
Q4 2024 | Oct 21, 2024 | $2.38 | $2.37 | -0.4% | ✗ MISS |
Q3 2024 | Jul 22, 2024 | $2.34 | $2.36 | +0.9% | ✓ BEAT |
Q2 2024 | Apr 22, 2024 | $2.31 | $2.35 | +1.7% | ✓ BEAT |
Q1 2024 | Jan 29, 2024 | $2.29 | $2.28 | -0.4% | ✗ MISS |
Q4 2023 | Oct 23, 2023 | $2.24 | $2.26 | +0.9% | ✓ BEAT |
Q3 2023 | Jul 24, 2023 | $2.20 | $2.24 | +1.8% | ✓ BEAT |
Q2 2023 | Apr 24, 2023 | $2.15 | $2.19 | +1.9% | ✓ BEAT |
Q1 2023 | Jan 30, 2023 | $2.13 | $2.14 | +0.5% | ✓ BEAT |
Q4 2022 | Oct 24, 2022 | $0.68 | $2.11 | +210.3% | ✓ BEAT |
Q3 2022 | Jul 25, 2022 | $0.66 | $1.67 | +153.0% | ✓ BEAT |
Q2 2022 | Apr 25, 2022 | $2.00 | $2.05 | +2.5% | ✓ BEAT |
Q1 2022 | Jan 31, 2022 | $1.96 | $1.97 | +0.5% | ✓ BEAT |
Q4 2021 | Oct 25, 2021 | $1.94 | $1.95 | +0.5% | ✓ BEAT |
Q3 2021 | Jul 26, 2021 | $1.89 | $1.93 | +2.1% | ✓ BEAT |
Latest News
Jefferies Maintains Hold on Alexandria Real Estate, Lowers Price Target to $47
📉 NegativeShares of REITs are trading higher after the Fed cut rates, which could drive a rotation into dividend-paying sectors.
📈 PositiveAlexandria Real Estate Authorizes New $500M Stock Repurchase Program Through 2026
📈 PositiveCitigroup Maintains Neutral on Alexandria Real Estate, Lowers Price Target to $52
➖ NeutralEvercore ISI Group Maintains Outperform on Alexandria Real Estate, Lowers Price Target to $64
➖ NeutralBMO Capital Maintains Outperform on Alexandria Real Estate, Lowers Price Target to $60
➖ NeutralBaird Maintains Outperform on Alexandria Real Estate, Lowers Price Target to $67
➖ NeutralAlexandria Real Estate slashes dividend; see other stocks in the sector most likely to cut
📉 NegativeAlexandria Real Estate Equities shares are trading lower after the company cut its quarterly dividend.
📉 NegativeAlexandria Real Estate Equities trades lower as 2026 FFO guidance falls short of consensus
📉 NegativeAlexandria Real Estate Equities Lowers Quarterly Dividend From $1.32 To $0.72/Share
📉 NegativeEvercore ISI Group Maintains Outperform on Alexandria Real Estate, Lowers Price Target to $72
➖ NeutralBaird Maintains Outperform on Alexandria Real Estate, Lowers Price Target to $73
➖ NeutralCitizens Downgrades Alexandria Real Estate to Market Perform
📉 NegativeCitigroup Maintains Neutral on Alexandria Real Estate, Lowers Price Target to $61
➖ NeutralRBC Capital Maintains Sector Perform on Alexandria Real Estate, Lowers Price Target to $65
📉 NegativeCantor Fitzgerald Maintains Neutral on Alexandria Real Estate, Lowers Price Target to $52
➖ NeutralAlexandria Real Estate Equities shares are trading lower after BTIG downgraded the stock from Buy to Neutral.
📉 NegativeBTIG Downgrades Alexandria Real Estate to Neutral
📉 NegativeAlexandria Real Estate shares are trading lower after the company lowered its FY2025 FFO guidance.
📉 NegativeFrequently Asked Questions about ARE
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