Alexandria Real Estate Equities, Inc. ARE
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative Megacampus ecosystems in AAA life science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City. As of March 31, 2026, Alexandria has a total market capitalization of $20.44 billion and an asset base that includes 35.8 million RSF of operating properties and 3.4 million RSF of Class A/A+ properties undergoing construction. Alexandria has a long-standing and proven track record of developing Class A/A+ properties clustered in highly dynamic and collaborative Megacampus environments that enhance our tenants 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 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.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-27) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $2.97B | $-1.43B | $1.35B | $360.45M | $1.41B |
| 2024 | $3.05B | $322.95M | $1.20B | $1.90B | $1.50B |
| 2023 | $2.84B | $103.64M | $1.09B | $1.45B | $1.63B |
| 2022 | $2.58B | $521.66M | $1.00B | $1.77B | $1.29B |
| 2021 | $2.11B | $571.25M | $821.06M | $1.62B | $1.01B |
| 2020 | $1.89B | $770.96M | $640.86M | $1.17B | $882.51M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-06-01 | $0.72 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-02-27 | $0.72 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-15 | 2025-12-03 | $0.72 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-09-02 | $1.32 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-15 | 2025-06-02 | $1.32 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-03-03 | $1.32 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-15 | 2024-12-09 | $1.32 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-15 | 2024-09-04 | $1.30 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-15 | 2024-06-03 | $1.30 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-04-15 | 2024-03-04 | $1.27 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-12 | 2023-12-04 | $1.27 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-13 | 2023-09-05 | $1.24 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-14 | 2023-06-05 | $1.24 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-14 | 2023-03-06 | $1.21 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-13 | 2022-12-05 | $1.21 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-14 | 2022-09-06 | $1.18 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-05-31 | $1.18 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-15 | 2022-03-01 | $1.15 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-14 | 2021-12-06 | $1.15 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-15 | 2021-09-07 | $1.12 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-15 | 2021-06-01 | $1.12 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-15 | 2021-03-01 | $1.09 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-15 | 2020-12-07 | $1.09 | Quarterly |
| 2020-09-29 | 2020-09-30 | 2020-10-15 | 2020-09-01 | $1.06 | Quarterly |
Coverage (payout of operating cash flow): 34.70%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.