Alexandria Real Estate Equities, Inc. (ARE)

Alexandria Real Estate Equities, Inc., 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 and advanced technology innovation cluster locations, including Greater Boston, San Diego, the San Francisco Bay Area, Seattle, Maryland, Research Triangle, and New York City. Alexandria Real Estate Equities, Inc. was established in 1994 and was incorporated in Maryland.

Symbol: ARE
Exchange: NYSE
Sector: Real Estate
Industry: REIT - Office
Market cap: $8.09B
52 week range: 39.41 - 85.37

Valuation

Share price: $47.37 (close of 2026-10-02)
P/E (TTM): -7.82x
Price to book: 0.42x
Price to free cash flow: 6.32x
Enterprise value: $20.78B
Book value per share: $112.27

Price performance

Period	Change
1 day	+0.72%
5 days	-5.13%
1 month	-10.15%
3 months	-9.91%
6 months	+9.58%
Year to date	-3.21%
1 year	-43.41%
3 years	-51.75%
5 years	-75.59%
10 years	-56.45%
All time	+125.57%

Members of Congress who disclosed ARE trades

Gilbert Ray Cisneros · Robert Bresnahan · Ritchie Torres

Super investors holding ARE

Ken Griffin (Citadel) · Christopher Davis (Davis Selected Advisers)

Profitability and growth

Return on equity: -7.49%
Return on assets: -4.19%
Net margin: -47.23%
EBITDA margin: 4.88%
Revenue growth: -2.88%
Net income growth: -542.66%
Free cash flow growth: -6.01%

Cash flow and balance sheet

Free cash flow yield (TTM): 15.82%
Net debt to EBITDA: 18.46x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $3.03B
EBITDA: $147.61M
Net income: -$1.43B
Earnings per share: $-8.44
Interest expense: $226.70M
Shares outstanding: 170.31M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$3.03B	-$1.43B	$-8.44
2024-12-31	$3.12B	$322.95M	$1.80
2023-12-31	$2.89B	$103.64M	$0.54
2022-12-31	$2.59B	$521.66M	$3.18
2021-12-31	$2.11B	$571.25M	$3.83
2020-12-31	$1.89B	$770.96M	$6.03
2019-12-31	$1.53B	$363.17M	$3.13
2018-12-31	$1.33B	$379.31M	$3.53
2017-12-31	$1.13B	$169.09M	$1.59
2016-12-31	$921.71M	-$65.90M	$-1.99

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	-47.23%	-7.49%
2024-12-31	10.36%	1.44%
2023-12-31	3.59%	0.46%
2022-12-31	20.15%	2.30%
2021-12-31	27.02%	3.00%
2020-12-31	40.89%	5.74%
2019-12-31	23.72%	3.58%
2018-12-31	28.57%	4.81%
2017-12-31	14.99%	2.61%
2016-12-31	-7.15%	-1.23%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$549.06M	$12.40B
2024-12-31	$552.15M	$12.24B
2023-12-31	$618.19M	$11.32B
2022-12-31	$825.19M	$10.16B
2021-12-31	$361.35M	$8.79B
2020-12-31	$568.53M	$7.56B
2019-12-31	$189.68M	$6.78B
2018-12-31	$234.18M	$5.48B
2017-12-31	$254.38M	$4.76B
2016-12-31	$125.03M	$4.16B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.41B	$41.12M
2024-12-31	$1.50B	$59.63M
2023-12-31	$1.63B	$82.86M
2022-12-31	$1.29B	$57.74M
2021-12-31	$1.01B	$48.67M
2020-12-31	$882.51M	$43.50M
2019-12-31	$683.86M	$43.64M
2018-12-31	$570.34M	$35.02M
2017-12-31	$450.88M	$25.61M
2016-12-31	$393.49M	$25.43M

Dividend history

Most recent payment: 2026-09-30
Paid in the last twelve months: $2.88

Payment date	Dividend per share
2026-09-30	$0.72
2026-06-30	$0.72
2026-03-31	$0.72
2025-12-31	$0.72
2025-09-30	$1.32
2025-06-30	$1.32
2025-03-31	$1.32
2024-12-31	$1.32

Investor relations

Next earnings report

Next confirmed report: 2026-10-26
Consensus EPS estimate: $1.52

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-03	Jun/2026	$1.65
2026-04-27	Mar/2026	$1.73
2026-01-26	Dec/2025	$2.15
2025-10-27	Sep/2025	$2.31
2025-07-21	Jun/2025	$2.29
2025-04-28	Mar/2025	$2.28
2025-04-21	-	-
2025-01-27	Dec/2024	$2.39

Filings and sources

Company website: are.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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