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Financial Data and Key Metrics Changes - Total revenues and NOI for Q3 2024 increased by 10.9% and 12.5% respectively compared to Q3 2023, driven by solid same-property performance and execution of development strategies [25][26] - FFO per share diluted as adjusted for the quarter was $2.37, up 4.9% over Q3 2023, aligning with consensus expectations [25][26] - Collections remained high at 99.9%, with adjusted EBITDA margins at 70% for the quarter [26] Business Line Data and Key Metrics Changes - Leasing volume for the quarter was 1.5 million square feet, up 48% over the trailing four-quarter average, marking the highest quarterly volume since Q4 2022 [26] - GAAP and cash rental increases were 1.5% and 5.1% respectively, influenced by a significant non-laboratory lease renewal with a high-credit tech tenant [19][26] - Same-property NOI growth for Q3 2024 was solid at 1.5%, with cash basis growth at 6.5% [29] Market Data and Key Metrics Changes - The life science industry continues to show resilience, with venture capital deployment to private biotech tenants tracking to eclipse 2023, potentially marking the third highest year on record [11][12] - The IPO market has opened up, with over half of the companies that went public in 2024 trading above their issue price, indicating a positive trend for future leasing demand [13] - Commercial stage public biopharma and large multinational pharma continue to commit significant resources to R&D, with over $200 billion cash on hand among the top 25 biopharma companies [13] Company Strategy and Development Direction - The company aims to reinforce its core through a differentiated mega campus strategy, with 76% of annual rental revenue coming from these campuses [34][41] - The strategy includes disposing of non-core assets to enhance the quality of the asset base and focus on stabilized properties [35][41] - The company expects to generate $510 million of incremental net operating income from its development and redevelopment projects over the next 3.5 years [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the life science industry, highlighting its potential for innovation and growth despite a challenging economic backdrop [4][8] - The company anticipates some pressure on fourth quarter same-property results due to a lease termination, but overall expects solid growth for the full year [30] - Management remains committed to maintaining a strong balance sheet and disciplined funding strategy, with a targeted net debt to adjusted EBITDA leverage ratio of 5.1x by year-end [34] Other Important Information - The company closed on over $300 million of asset sale transactions in Q3 2024, including a significant sale to the Fred Hutchinson Cancer Research Center [21][22] - The company has $577.2 million of pending dispositions subject to non-refundable deposits, with expectations to close these transactions by year-end [36][38] - The average annual increase in dividends per share has been 5.4% since 2020, with a conservative FFO payout ratio of 55% for Q3 2024 [39] Q&A Session Summary Question: Insights on the Seattle asset sale and pending sales cap rates - Management clarified that the difference in cap rates between the Seattle asset sale (4.9%) and pending sales (7.5% cash cap rate) is due to the nature of the assets and their lease terms [42][47] Question: Dollar value of non-core assets and potential sales pipeline - Management indicated that while some non-core assets may be sold, there are valuable assets that may be retained, and land not located in mega campuses could also be a capital source [52][53] Question: Realized gains guidance for the full year - Management confirmed that realized gains for the quarter were $23 million, with year-to-date gains at $85.2 million, aligning with the guidance range of $95 million to $125 million [53] Question: Lease extension with a tech tenant in Texas - Management noted that the lease renewal was integral to the tenant's campus, and while the long-term plans are uncertain, the cash flow is preferable in the current market [55][56] Question: Larger space requirements and leasing demand - Management observed steady demand for revenue-generating spaces, but noted that medium-sized tenant demand remains challenging [57]

Alexandria Real Estate Equities, Inc. (ARE) reported third-quarter 2024 adjusted funds from operations (AFFO) per share of $2.37, missing the Zacks Consensus Estimate by a penny. However, the reported figure outpaced the year-ago quarter’s AFFO per share of $2.26 by 4.9%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflected a rise in revenues, aided by decent leasing activity and rental rate growth. Alexandria narrowed its 2024 outlook.Total revenues of $791.6 million in ...

For the quarter ended September 2024, Alexandria Real Estate Equities (ARE) reported revenue of $791.61 million, up 10.9% over the same period last year. EPS came in at $2.37, compared to $0.13 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $775.93 million, representing a surprise of +2.02%. The company delivered an EPS surprise of -0.42%, with the consensus EPS estimate being $2.38.While investors closely watch year-over-year changes in headline numbers -- revenue ...

Alexandria Real Estate Equities (ARE) came out with quarterly funds from operations (FFO) of $2.37 per share, missing the Zacks Consensus Estimate of $2.38 per share. This compares to FFO of $2.26 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -0.42%. A quarter ago, it was expected that this life science real estate company would post FFO of $2.34 per share when it actually produced FFO of $2.36, delivering a surprise of 0.85%. O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 1-12993 ALEXANDRIA REAL ESTATE EQUITIES, INC. (Exact name of registrant as specified in its charter) M ...

Alexandria Real Estate Equities Inc. (ARE) is scheduled to release third-quarter 2024 results on Oct. 21 after the closing bell. Its quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last reported quarter, this Pasadena, CA-based life science real estate investment trust (REIT), focusing on collaborative life science, agtech and technology campuses in AAA innovation cluster lo ...

Core Insights - Alexandria Real Estate Equities (ARE) is expected to report quarterly earnings of $2.38 per share, reflecting a 5.3% increase year over year [1] - Analysts forecast revenues of $775.93 million, indicating an 8.7% year-over-year growth [1] - The consensus EPS estimate has been revised 0.1% higher in the last 30 days, showing analysts' reevaluation of their initial estimates [1] Revenue Projections - 'Revenues- Other income' is projected to reach $11.32 million, representing an 80.9% year-over-year increase [2] - 'Revenues- Rental' is expected to be $769.02 million, also reflecting an 8.7% year-over-year growth [2] Depreciation and Amortization - The consensus estimate for 'Depreciation and amortization' is $290.06 million, compared to $269.37 million from the previous year [2] Stock Performance - Shares of Alexandria Real Estate Equities have shown a return of -2.3% over the past month, while the Zacks S&P 500 composite has increased by 3.5% [3] - The company holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the overall market in the near future [3]

With the stock price currently at half of its peak reached at the end of 2021, Alexandria Real Estate (NYSE: ARE ) stock remains disconnected from the company's growing fundamentals, making it undervalued. The recent strategy focusingMy name is Claudiu, and I'm originally from Romania, now based in London. Since 2017, I have been deeply engaged in the stock market, focusing on long-term value investing. I hold a degree in Business and Management from London Metropolitan University. My primary investment str ...

These two stocks offer strong long-term investment potential.It's been quite a year for the S&P 500. The index has gained 21% since January.While the strong gain gets a lot of attention, not every stock has performed well. PepsiCo (PEP 1.05%) has been flat and Alexandria Real Estate Equities' (ARE 2.17%) shares have dropped 10%. While that may give some investors pause, the declines give long-term investors, particularly dividend-seeking ones, a buying opportunity.These three have strong businesses, and inv ...