(917) 633-7790 SARA M. KABAKOFF Senior Vice President – Chief Content Officer Alexandria Real Estate Equities, Inc. All Rights Reserved. © 2024 Table of Contents June 30, 2024 | COMPANY HIGHLIGHTS | Page | Page | | --- | --- | --- | | Mission and Cluster Model | iii | Corporate Responsibility xxvi | | EARNINGS PRESS RELEASE | Page | Page | | Second Quarter Ended June 30, 2024 Financial and Operating | | | | Results | 1 | Earnings Call Information and About the Company 7 | | Guidance | 4 | Consolidated State ...

Financial Performance - Total revenues for Q2 2024 reached $766,734,000, an increase of 7.4% compared to $713,900,000 in Q2 2023[13] - Net income attributable to Alexandria Real Estate Equities, Inc.'s common stockholders for Q2 2024 was $42,917,000, down 50.9% from $87,260,000 in Q2 2023[15] - The company reported a net income of $313,225,000 for the first half of 2024, compared to $255,398,000 for the same period in 2023, reflecting a growth of 22.6%[16] - Basic net income per share for Q2 2024 was $0.25, down from $0.51 in Q2 2023, indicating a decrease of 51%[15] - Income from rentals for the six months ended June 30, 2024, was $1.5 billion, up from $1.4 billion in the same period of 2023, reflecting a 8.8% increase[76] - Other income for the three months ended June 30, 2024, was $11.6 million, compared to $9.6 million in the same period of 2023, indicating a 21.0% increase[76] Assets and Investments - Investments in real estate increased to $32,673,839,000 as of June 30, 2024, up from $31,633,511,000 at the end of 2023, representing a growth of 3.3%[12] - Total assets grew to $37,847,865,000 as of June 30, 2024, compared to $36,771,402,000 at the end of 2023, marking an increase of 2.9%[12] - The gross investments in real estate as of June 30, 2024, were $38,131.3 million, up from $36,614.3 million at the end of 2023[116] - As of June 30, 2024, total investments in real estate amounted to $32,673.8 million, an increase from $31,633.5 million as of December 31, 2023[116] - The company holds investments in publicly traded and privately held entities, primarily in the life science industry, with ownership typically limited to less than 10%[64][65] Liabilities and Cash Flow - Total liabilities increased to $15,180,998,000 as of June 30, 2024, from $14,148,409,000 at the end of 2023, an increase of 7.3%[12] - Cash and cash equivalents decreased to $561,021,000 as of June 30, 2024, down from $618,190,000 at the end of 2023, a decline of 9.2%[12] - Net cash provided by operating activities for the six months ended June 30, 2024, was $752,954 thousand, slightly down from $784,043 thousand in 2023[30] - Total cash used in investing activities for the six months ended June 30, 2024, was $(1,468,479) thousand, compared to $(1,434,101) thousand in 2023[30] Dividends - The company declared dividends of $1.30 per share for Q2 2024, compared to $1.24 per share in Q2 2023[18] - Dividends declared on common stock were $443,958 thousand for the six months ended June 30, 2024, compared to $418,477 thousand in 2023[33] - For the three months ended June 30, 2024, the company declared cash dividends totaling $227.4 million, equating to $1.30 per share[210] Impairments and Allowances - The company reported an impairment of real estate of $30,763,000 for Q2 2024, compared to $168,575,000 in Q2 2023, a decrease of 81.8%[15] - The company recognized impairment charges of $30.8 million during the three months ended June 30, 2024, related to two potential acquisitions in Greater Boston[121] - The company recognized a general allowance balance of $21.3 million as of June 30, 2024, compared to $21.4 million as of December 31, 2023[89] Acquisitions and Projects - The company has one committed near-term project expected to commence construction in the next two years[34] - During the six months ended June 30, 2024, the company completed acquisitions totaling $201.8 million, primarily in the Seaport Innovation District[117] Debt and Financing - The company issued $1.0 billion of unsecured senior notes in February 2024, with a weighted-average interest rate of 5.48% and a maturity of 23.1 years[195] - The unsecured senior line of credit had aggregate commitments of $5.0 billion, with an interest rate of SOFR plus 0.855% as of June 30, 2024[196] - The total unsecured senior notes payable amounted to $12,089.6 million, with a weighted-average interest rate of 3.81% and a remaining term of 13.3 years[192] Market Capitalization and Valuation - As of June 30, 2024, Alexandria Real Estate Equities, Inc. has a total market capitalization of $32.5 billion and an asset base of 42.1 million RSF of operating properties[34] - The company employs multiple valuation techniques for investments, including discounted cash flow analysis and comparative analysis of acquisition multiples[185] Future Projections - The company expects the amendment and restatement of its unsecured senior line of credit to become effective in September 2024, extending the maturity date to January 22, 2030[198] - The total future lease payments under operating leases as of June 30, 2024, are projected to be $19.2 billion[143]

shaunl The Nasdaq has had a banner year, rising repeatedly in the first quarter. April turned more problematic, but the index more than managed to make up for it in the following two months. Now, as we all know, most of that upward activity was due to just seven stocks – and sometimes just three or four – as big tech reveled in artificial intelligence mania. All the same, those “magnificent” companies made the larger index look good. Yahoo Finance But something seems to have changed this week, with te ...

filo Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a well-managed real estate investment trust with an operational focus on life science real estate. The trust has enjoyed consistent funds from operations growth in its main business over the years and has strong portfolio metrics to back up a favorable outlook for passive income investors. Alexandria Real Estate Equities pays out just a tad more than 50% of its funds from operations, and the stock is moderately valued. Since the life science trust ...

Alexandria announces that a recently completed large-scale solar farm is now supplying renewable power to meet 100% of its Greater Boston region's electricity load through a long-term power purchase agreementAlexandria joined Moderna and the Massachusetts governor on June 26 to celebrate the grand opening of the mRNA leader's new HQ and R&D center, designed to be the most sustainable laboratory building in Cambridge, at 325 Binney Street on the One Kendall Square mega campusPASADENA, Calif., June 28, 2024 / ...

Alexandria Real Estate Equities, Inc. (ARE) recently clinched a new 10-year lease with a pharmaceutical company for 127,382 rentable square feet (RSF) at 10075 Barnes Canyon Road on the SD Tech by Alexandria mega campus in the Sorrento Mesa submarket of San Diego. With the execution of this lease, the tenant has increased its San Diego footprint by nearly 53%.Strategically designed to attract tenants and retain and motivate top talent, this mega campus offers a unique range of customized amenities. These am ...

KvdB50This article was coproduced with Wolf Report. We've been writing about Alexandria Real Estate (NYSE:ARE) since the company was trading at essentially double digits - which is also coincidentally when we last purchased a significant number of shares in the company. In our last article on ARE, which we published at the end of 2023, almost half a year ago now, we considered it the "last good time" to enter the company at an attractive valuation. We're going to use this opportunity to update our thesi ...

Alexandria Real Estate Equities, Inc.’s (ARE) portfolio of high-quality, niche assets — life science, technology and agtech properties — in strategic markets is well-poised to benefit from solid demand for life science assets due to the increasing need for drug research and innovation. However, a huge development outlay raises the risks of cost overruns and lease-up concerns amid macroeconomic uncertainty and a high interest rate environment.What’s Aiding ARE?Alexandria owns Class A/A+ properties in the AAA ...

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