Financial Data and Key Metrics Changes - The company reported a 9.7% increase in total revenues and an 11.5% increase in NOI for Q1 2024 compared to Q1 2023, driven by solid same-property performance and execution of development strategies [27][28] - FFO per share diluted as adjusted was $2.35, up 7.3% year-over-year, exceeding consensus estimates [27][28] - Collections remained high at 99.9%, with adjusted EBITDA margins at 72% [28][29] Business Line Data and Key Metrics Changes - The company achieved 7.6% year-over-year NOI growth and 7.3% year-over-year FFO growth, alongside a 5% increase in dividends [8] - Leasing volume for the quarter was strong at 1.1 million square feet, consistent with pre-pandemic levels, with GAAP and cash rental rate increases of 33% and 19% respectively [29][30] - Same property NOI growth for Q1 2024 was solid at 1% and 4.2% on a cash basis [28][30] Market Data and Key Metrics Changes - In Greater Boston, unleased competitive supply decreased significantly from 7% to 1.6% of market inventory due to new deliveries [22][24] - Direct vacancy in Greater Boston increased to 12.98%, while San Francisco and San Diego also saw increases in direct vacancy rates [24] - The company expects 2024 to be the peak year for new deliveries, with a subsequent decrease in 2025 [22][24] Company Strategy and Development Direction - The company is focused on leasing for the 2025 pipeline and redevelopment space, with a strong emphasis on maintaining high occupancy rates [9][20] - The company plans to recycle approximately $1.4 billion of capital in 2024, with $275 million of noncore assets sold or pending [9][26] - The company aims to grow its operating base by 78% over time through significant construction and pre-construction activities [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the life sciences sector's recovery, citing strong venture capital activity and a robust pipeline of new therapies [12][60] - The management noted that the current macroeconomic environment remains challenging, with high interest rates and inflation impacting operations [6][60] - The company anticipates a strong demand recovery in 2025, driven by ongoing investments in the life sciences sector [60][64] Other Important Information - The company has a strong balance sheet with low leverage at 5.2 times net debt to adjusted EBITDA and significant liquidity of $6 billion [35][36] - The company reiterated its full-year 2024 guidance for FFO per share diluted as adjusted at $9.47, representing a 5.6% growth over 2023 [28][39] Q&A Session Summary Question: Follow-up on asset recycling - Management clarified that there is no pause in asset recycling activity, with ongoing brisk sales expected in the latter half of the year [41][43] Question: Competitive supply and leasing environment - Management indicated that new supply is not competing effectively with their offerings, as their brand and operational excellence attract tenants [75][76] Question: Development yields and interest rates - Management discussed the importance of considering long-term internal rates of return when evaluating development opportunities, despite current high interest rates [80]

marrio31 Alexandria Real Estate Equities, Inc. (NYSE:ARE) investors have struggled to replicate the market-beating performance in late 2023, as ARE met with stiff selling resistance after it topped out in December 2023. Interestingly, ARE's relative underperformance over the past few months coincided with the resurgence in long-term bond yields, as seen in the recovery of the United States 10-Year Bond Yield (US10Y). Observant real estate investors should have assessed the 10Y bottomed out in December at th ...

For the quarter ended March 2024, Alexandria Real Estate Equities (ARE) reported revenue of $769.11 million, up 9.8% over the same period last year. EPS came in at $2.35, compared to $0.44 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $765.88 million, representing a surprise of +0.42%. The company delivered an EPS surprise of +1.73%, with the consensus EPS estimate being $2.31.While investors closely watch year-over-year changes in headline numbers -- revenue and e ...

Alexandria Real Estate Equities, Inc. All rights reserved. ©2024 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Real Estate Equities, Inc. All rights reserved. ©2024 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Real Estate Equities, Inc. All rights reserved. ©2024 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Real Estate Equities, Inc. All rights reserved. ©2024 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Real Estate Equities, Inc. ...

Alexandria Real Estate Equities, Inc. All Rights Reserved. © 2024 Alexandria Real Estate Equities, Inc. All Rights Reserved. © 2024 Table of Contents March 31, 2024 | COMPANY HIGHLIGHTS | Page | | Page | | --- | --- | --- | --- | | Our Mission and Cluster Model | iii | Corporate Responsibility | xxii | | EARNINGS PRESS RELEASE | Page | | Page | | First Quarter Ended March 31, 2024 Financial and Operating | | | | | Results | 1 | Earnings Call Information and About the Company | 7 | | Guidance | 4 | Consolida ...

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 March 31, 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) Maryl ...

Investors are always looking for stocks that are poised to beat at earnings season and Alexandria Real Estate Equities, Inc. (ARE) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Alexandria is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible ...

The upcoming report from Alexandria Real Estate Equities (ARE) is expected to reveal quarterly earnings of $2.32 per share, indicating an increase of 5.9% compared to the year-ago period. Analysts forecast revenues of $772.57 million, representing an increase of 10.2% year over year.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this ...

Andrii Yalanskyi REIT Performance In March the REIT sector recovered some of its losses from the first two months of the year, but still closed out Q1 2024 in the red. Equity REITs averaged a +3.26% total return in March and outperformed the broader market. The NASDAQ (+1.8%), Dow Jones Industrial Average (+2.2%) and S&P 500 (+3.2%) all saw solid gains in March albeit smaller gains than the average REITs. The market cap weighted Vanguard Real Estate ETF (VNQ) fell short of the average REIT in March (+1. ...

Core Viewpoint - Alexandria Real Estate Equities, Inc. (ARE) is well-positioned for growth due to its high-quality portfolio of life science, technology, and agtech properties in strategic markets, benefiting from strong demand and favorable market dynamics [1] Group 1: Portfolio and Performance - Alexandria focuses on Class A/A+ properties in AAA innovation cluster regions, characterized by high barriers to entry and limited supply, allowing the company to command high rents and maintain elevated occupancy levels [2] - In 2023, Alexandria's total leasing activity reached 4.3 million RSF, with lease renewals and re-leasing accounting for nearly 3.05 million RSF [2] Group 2: Demand for Life-Science Assets - The life science sector is experiencing booming demand driven by the need for drug research and innovation, presenting a multiyear growth opportunity [3] - The implementation of AI and ML tools in life sciences is increasing the demand for lab space, which is expected to drive further demand for Alexandria's assets [3] Group 3: Occupancy and Rental Growth - Alexandria's occupancy rate for its North American properties was 94.6% as of December 31, 2023, with rental rate growth of 29.4% during 2023 [4] - For 2024, same-store occupancy is projected to be 95.1%, with rental income expected to increase by 8.5% year-over-year [4] Group 4: Tenant Base - Alexandria has a diversified tenant base, including multinational pharmaceutical companies and biotechnology firms, with mega campuses contributing 75% of annual rental revenues [5] - The weighted average remaining lease term for all tenants is 7.4 years, ensuring steady rental revenues [5] Group 5: Acquisitions and Development - In 2023, Alexandria completed acquisitions and development projects worth $258.9 million, with a total of 2.5 million RSF placed into service, generating $265 million in incremental annual NOI [6] - The project pipeline is expected to yield an annual incremental NOI of $495 million through Q4 2027, with 60% leased [6] Group 6: Financial Strength - Alexandria exited 2023 with $5.8 billion in liquidity, with a net debt to adjusted EBITDA ratio of 5.1X, improving from 5.4X [7] - The company has no debt maturities before 2025 and enjoys favorable credit ratings, positioning it well for growth opportunities [7] Group 7: Dividend Policy - Alexandria has a history of consistently raising its dividend rates, with a 2.4% increase announced in December 2023, bringing the payout to $1.27 per share [8] - The company has increased its dividend 10 times in the last five years, with a five-year annualized growth rate of 5.41% [8]