Inferra AI / Company / ARE
Alexandria Real Estate Equities
ARE · Real Estate
Last earnings Oct 26, 2026
Key results
Revenuequarter
$16 million
Potential early terminations temporary downtime for construction post-termination with re-lease to two new tenants under early negotiations in our San Francisco Bay Area with a weighted-average estimate of approximately 250K RSF and $16 million in annual rental revenue.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Potential tenant wind-downs Assumed downtime without immediate backfill of approximately 500K RSF and $23 million in annual rental revenue.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
RENTAL revenuequarter
2 PERCENT
STEADILY IMPROVE OCCUPANCY AND INCREASE NOI4 Public Biotechnology Approved or Marketed Product 20% 11% 9% 13% 10%1% 10% 3% 23% Biomedical Institutions3 Life Science Product, Service, and Device Public Biotechnology Preclinical or Clinical Stage Private Biotechnology Other1 Government Institutions Advanced Technologies2 PERCENTAGE OF ARE S ANNUAL RENTAL REVENUE Focusing on All Sectors of Our Tenant Base, INCLUDING THE MOST INNOVATIVE ENTITIES IN A RAPIDLY CHANGING ENVIRONMENT Multinational Pharmaceutical 20ALEXANDRIA REAL ESTATE EQUITIES, INC.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
Annual contractual escalations of approximately 3% are based on weighted-average annual rental revenues in effect as of September 30, 2025.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
Potential revenueytd
$50B
$129.1B $102.2B $90.8B $75.2B $88.8B $121.9B $96.1B $86.0B $170.5B $80.1B $138.2B $64.2B $137.0B 129 95 76 79 80 72 80 83 82 78 74 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD 2025 BIOPHARMA M&A TRANSACTIONS2 <$50B Deals $50B+ Deals Deal Count Pharma Faces Over $180B in Potential Revenue Loss Due to Patent Expirations Through 20301 ENTREPRENEURIAL ENVIRONMENT & ACCESS TO CAPITAL 41ALEXANDRIA REAL ESTATE EQUITIES, INC.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
Potential revenueQ3 2025
$180B
$129.1B $102.2B $90.8B $75.2B $88.8B $121.9B $96.1B $86.0B $170.5B $80.1B $138.2B $64.2B $137.0B 129 95 76 79 80 72 80 83 82 78 74 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD 2025 BIOPHARMA M&A TRANSACTIONS2 <$50B Deals $50B+ Deals Deal Count Pharma Faces Over $180B in Potential Revenue Loss Due to Patent Expirations Through 20301 ENTREPRENEURIAL ENVIRONMENT & ACCESS TO CAPITAL 41ALEXANDRIA REAL ESTATE EQUITIES, INC.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
AI analysis
Q3 2025 · reported Dec 3, 2025
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q3 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | $16 million | — | — |
| RENTAL revenue | 2 PERCENT | — | — |
| Potential revenue | $180B | — | — |
Guidance · company-stated
Direction: Lowered
“The midpoint of our guidance range for 2025 net (loss) income per share was reduced by $5.64 from $(2.94) to $(8.58) compared to our 2025 guidance disclosed on October 27, 2025, primarily to reflect additional real estate impairments aggregating $588 million described above.”
“Updates to 2025 Guidance (continued) Impairment charge of $208.0 million, representing our share, was recognized to reduce the carrying amounts of seven properties owned by our consolidated real estate joint venture at a Megacampus in our South San Francisco submarket, to their estimated fair values aggregating approximately $282.0 million less costs to sell.”
“We expect a $85 million, or 25%, reduction in capitalized interest in 2026 compared to 2025 based upon the midpoints of our guidance ranges for capitalized interest disclosed on December 3, 2025 and October 27, 2025, respectively.”
“The key components of the reduction in capitalized interest year-over-year comprise the following Component of reduction of capitalization of interest (in millions) Capitalized Interest (1) 2025 capitalized interest midpoint $ 335 Dispositions completed and pending in 2025 and projected dispositions in 2026 (80) to (60) Projected pause in pre-construction activities on land (not expected to be sold in 2025 and 2026) (20) to 0 Change in active pipeline and other (2) (15) to 5 2026 capitalized interest midpoint $ 250 (1) Represents or based on the midpoints of our guidance ranges for 2025 and 2026 capitalization of interest disclosed on October 27, 2025 and December 3, 2025, respectively.”
“2026 Self-Funding Sources 2026 Capital Needs 45% Dividend Reduction (1) Dispositions and Sales of Partial Interests 2026 Guidance Midpoint Key sources of capital Reduction in debt $ (1,075) $ $ (600) $ (1,675) Net cash provided by operating activities after dividends 115 410 525 Dispositions and sales of partial interests 2,900 2,900 Funding needed to achieve leverage target 2,710 (410) (2,300) $ 1,750 $ $ $ 1,750 Key uses of capital Construction $ 1,750 $ $ $ 1,750 $ 1,750 $ $ $ 1,750 (1) Refer to 2026 dividends and net cash provided by operating activities after dividends below.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Exhibit 99.2 2026 Guidance Our 2026 guidance includes certain forward-looking non-GAAP financial measures, such as funds from operations as adjusted, net debt and preferred stock to Adjusted EBITDA 4Q26 annualized, and fixed-charge coverage ratio 4Q26 annualized, that differ from measures calculated in accordance with GAAP.
Event summary
Alexandria Real Estate Equities Q3 2025 — Potential early terminations temporary downtime for construction post-termination with re-lease to two new tenants under early negotiations in our San Francisco Bay Area with a weighted-average estima…
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Lowered
Company outlook: “The midpoint of our guidance range for 2025 net (loss) income per share was reduced by $5.64 from $(2.94) to $(8.58) compared to our 2025 guidance disclosed on October 27, 2025, primarily to reflect additional real estate impairments aggregating $588 million described above.”
Company outlook: “Updates to 2025 Guidance (continued) Impairment charge of $208.0 million, representing our share, was recognized to reduce the carrying amounts of seven properties owned by our consolidated real estate joint venture at a Megacampus in our South San Francisco submarket, to their estimated fair values aggregating approximately $282.0 million less costs to sell.”
Company outlook: “We expect a $85 million, or 25%, reduction in capitalized interest in 2026 compared to 2025 based upon the midpoints of our guidance ranges for capitalized interest disclosed on December 3, 2025 and October 27, 2025, respectively.”
Company outlook: “The key components of the reduction in capitalized interest year-over-year comprise the following Component of reduction of capitalization of interest (in millions) Capitalized Interest (1) 2025 capitalized interest midpoint $ 335 Dispositions completed and pending in 2025 and projected dispositions in 2026 (80) to (60) Projected pause in pre-construction activities on land (not expected to be sold in 2025 and 2026) (20) to 0 Change in active pipeline and other (2) (15) to 5 2026 capitalized interest midpoint $ 250 (1) Represents or based on the midpoints of our guidance ranges for 2025 and 2026 capitalization of interest disclosed on October 27, 2025 and December 3, 2025, respectively.”
Revenue: “2026 Self-Funding Sources 2026 Capital Needs 45% Dividend Reduction (1) Dispositions and Sales of Partial Interests 2026 Guidance Midpoint Key sources of capital Reduction in debt $ (1,075) $ $ (600) $ (1,675) Net cash provided by operating activities after dividends 115 410 525 Dispositions and sales of partial interests 2,900 2,900 Funding needed to achieve leverage target 2,710 (410) (2,300) $ 1,750 $ $ $ 1,750 Key uses of capital Construction $ 1,750 $ $ $ 1,750 $ 1,750 $ $ $ 1,750 (1) Refer to 2026 dividends and net cash provided by operating activities after dividends below.”
Company outlook — Lowered (“reduced”)
“The midpoint of our guidance range for 2025 net (loss) income per share was reduced by $5.64 from $(2.94) to $(8.58) compared to our 2025 guidance disclosed on October 27, 2025, primarily to reflect additional real estate impairments aggregating $588 million described above.”
Company outlook — Lowered (“reduce”)
“Updates to 2025 Guidance (continued) Impairment charge of $208.0 million, representing our share, was recognized to reduce the carrying amounts of seven properties owned by our consolidated real estate joint venture at a Megacampus in our South San Francisco submarket, to their estimated fair values aggregating approximately $282.0 million less costs to sell.”
Company outlook — Lowered (“reduction”)
“We expect a $85 million, or 25%, reduction in capitalized interest in 2026 compared to 2025 based upon the midpoints of our guidance ranges for capitalized interest disclosed on December 3, 2025 and October 27, 2025, respectively.”
Company outlook — Lowered (“reduction”)
“The key components of the reduction in capitalized interest year-over-year comprise the following Component of reduction of capitalization of interest (in millions) Capitalized Interest (1) 2025 capitalized interest midpoint $ 335 Dispositions completed and pending in 2025 and projected dispositions in 2026 (80) to (60) Projected pause in pre-construction activities on land (not expected to be sold in 2025 and 2026) (20) to 0 Change in active pipeline and other (2) (15) to 5 2026 capitalized interest midpoint $ 250 (1) Represents or based on the midpoints of our guidance ranges for 2025 and 2026 capitalization of interest disclosed on October 27, 2025 and December 3, 2025, respectively.”
Revenue — Lowered (“Reduction”)
“2026 Self-Funding Sources 2026 Capital Needs 45% Dividend Reduction (1) Dispositions and Sales of Partial Interests 2026 Guidance Midpoint Key sources of capital Reduction in debt $ (1,075) $ $ (600) $ (1,675) Net cash provided by operating activities after dividends 115 410 525 Dispositions and sales of partial interests 2,900 2,900 Funding needed to achieve leverage target 2,710 (410) (2,300) $ 1,750 $ $ $ 1,750 Key uses of capital Construction $ 1,750 $ $ $ 1,750 $ 1,750 $ $ $ 1,750 (1) Refer to 2026 dividends and net cash provided by operating activities after dividends below.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Exhibit 99.2 2026 Guidance Our 2026 guidance includes certain forward-looking non-GAAP financial measures, such as funds from operations as adjusted, net debt and preferred stock to Adjusted EBITDA 4Q26 annualized, and fixed-charge coverage ratio 4Q26 annualized, that differ from measures calculated in accordance with GAAP.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Key credit metrics 2026 Guidance Net debt and preferred stock to Adjusted EBITDA 4Q26 annualized (1) 5.6x to 6.2x Fixed-charge coverage ratio 4Q26 annualized 3.6x to 4.1x Adjusted EBITDA margin trailing 12 months 4Q26 64% to 69% (1) Our near-term goal beyond 2026 for net debt and preferred stock to adjusted EBITDA quarter annualized, is 5.5x to 6.0x.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
2026 Self-Funding Sources 2026 Capital Needs 45% Dividend Reduction (1) Dispositions and Sales of Partial Interests 2026 Guidance Midpoint Key sources of capital Reduction in debt $ (1,075) $ $ (600) $ (1,675) Net cash provided by operating activities after dividends 115 410 525 Dispositions and sales of partial interests 2,900 2,900 Funding needed to achieve leverage target 2,710 (410) (2,300) $ 1,750 $ $ $ 1,750 Key uses of capital Construction $ 1,750 $ $ $ 1,750 $ 1,750 $ $ $ 1,750 (1) Refer to 2026 dividends and net cash provided by operating activities after dividends below.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
The ranges for our 2025 and 2026 revenue- and non-revenue-enhancing capital expenditures as a percentage of net operating income is expected to be 15% to 20% and 27% to 32%, respectively (based on the midpoint of our guidance ranges for 2025 and 2026 construction disclosed on December 3, 2025).
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
The top two revenue- and non-revenue-enhancing capital expenditure projects in 2026 represent approximately 55% of the total spending within this category.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Our five-year average (2022 through 2026) of revenue- and non-revenue-enhancing capital expenditures as a percentage of net operating income is expected to be approximately 17%.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Strategy & priorities
Updates to 2025 Guidance As described in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission on October 27, 2025, we continue to strategically harvest value through our asset recycling program.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
As a result, as of December 3, 2025, with the requisite authority and intent, we made strategic decisions to dispose of a number of real estate assets.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Management s decision not to proceed with the project was due to the macroeconomic outlook and our strategy to recycle capital into projects with greater value-creation potential.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
The decision to sell these certain Megacampus assets followed a reevaluation of the project s financial outlook and the capital required to lease vacant space and redevelop certain properties, leading to our strategic decision to reinvest the sales proceeds toward other projects with greater value-creation opportunities.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
The decision not to proceed with the project reflects a lack of tenant demand for laboratory space in the Seaport Innovation District submarket, and our strategy to recycle capital into projects with greater value-creation potential.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
Risks & headwinds
Our guidance for 2026 is subject to a number of variables and uncertainties, including actions and changes in policy by the current U.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
For additional discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated, refer to our discussion in Forward-Looking Statements in this exhibit as well as our SEC filings, including our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
These statements are subject to risks, uncertainties, assumptions, and other important factors that could cause actual results to differ materially from the results discussed in the forward-looking statements.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our SEC filings, including our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q.
SEC original ↗Alexandria Real Estate Equities — Earnings release (8-K exhibit)EX-99Dec 3, 2025
sworn in as HHS Secretary DOGE lays off thousands of FDA and CDC staff; 50% of FDA leadership will leave over the coming months NIH announces plan to cap institutional indirect grant funding at 15% Trump s Liberation Day tariff announcement causes broad market sell-off White House initiates Section 232 investigation into pharma imports, which would potentially raise U.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
drug costs by $51B annually LB Pharma issues IPO, marking the first biotech IPO in six months Fed lowers interest rates Trump threatens a 100% tariff on branded medicines unless pharma companies build manufacturing sites in the U.
SEC original ↗Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit)EX-99Dec 3, 2025
Earnings deck slides
0 decks with slide viewAlexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Alexandria Real Estate Equities — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
39 documents- Q3 2026
- 10-QARE
- 8-KARE
- EX-99ARE
- Q2 2026
- 8-KARE
- 8-KARE
- 8-KARE
- 8-KARE
- 10-QARE
- 8-KARE
- Q1 2026
- 8-KARE
- 8-KARE
- 10-QARE
- EX-99ARE
- Q4 2025
- 8-KARE
- 8-KARE
- 8-KARE
- 8-KARE
- 10-KARE
- EX-99ARE
- 8-KARE
- Q3 2025
- 8-KARE
- 8-KARE
- 8-KARE
- 8-KARE
- 10-QARE
- Q2 2025
- 8-KARE
- 10-QARE
- Q1 2025
- 8-KARE
- 8-KARE
- 10-QARE
- Q4 2024
- 8-KARE
- 8-KARE
- 8-KARE
- 8-KARE
- 8-KARE
- Q4 2022
- 8-KARE
- Q1 2018
- 8-KARE
- Q1 2015
- 8-KARE
- Q1 2010
- 8-KARE
Earnings releases
75 documents- Q2 2026
- EX-99ARE
- EX-99ARE
- Q4 2025
- EX-99ARE
- EX-99ARE
- Q3 2025
- EX-99ARE
- EX-99ARE
- EX-99ARE
- Q2 2025
- EX-99ARE
- Q1 2025
- EX-99ARE
- Q4 2024
- EX-99ARE
- EX-99ARE
- EX-99ARE
- EX-99ARE
- Q3 2024
- EX-99ARE
- EX-99ARE
- Q2 2024
- EX-99ARE
- Q1 2024
- EX-99ARE
- Q4 2023
- EX-99ARE
- Q3 2023
- EX-99ARE
- EX-99ARE
- EX-99ARE
- Q2 2023
- EX-99ARE
- EX-99ARE
- Q1 2023
- EX-99ARE
- Q4 2022
- EX-99ARE
- Q2 2022
- EX-99ARE
- Q4 2021
- EX-99ARE
- Q3 2021
- EX-99ARE
- Q2 2021
- EX-99ARE
- Q1 2021
- EX-99ARE
- Q4 2020
- EX-99ARE
- Q3 2020
- EX-99ARE
- Q2 2020
- EX-99ARE
- Q1 2020
- EX-99ARE
- Q3 2019
- EX-99ARE
- Q2 2019
- EX-99ARE
- Q4 2018
- EX-99ARE
- Q3 2018
- EX-99ARE
- Q1 2018
- EX-99ARE
- Q4 2017
- EX-99ARE
- EX-99ARE
- EX-99ARE
- EX-99ARE
- Q3 2017
- EX-99ARE
- Q1 2017
- EX-99ARE
- Q2 2016
- EX-99ARE
- Q1 2016
- EX-99ARE
- Q3 2015
- EX-99ARE
- Q4 2014
- EX-99ARE
- Q2 2014
- EX-99ARE
- Q2 2013
- EX-99ARE
- EX-99ARE
- Q1 2013
- EX-99ARE
- Q3 2012
- EX-99ARE
- EX-99ARE
- EX-99ARE
- Q4 2011
- EX-99ARE
- EX-99ARE
- Q3 2011
- EX-99ARE
- EX-99ARE
- Q2 2011
- EX-99ARE
- EX-99ARE
- Q1 2011
- EX-99ARE
- Q4 2010
- EX-99ARE
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- Q3 2010
- EX-99ARE
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- Q2 2010
- EX-99ARE
- Q1 2010
- EX-99ARE
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- Q4 2009
- EX-99ARE
- Q3 2009
- EX-99ARE
- Q2 2009
- EX-99ARE
- Q1 2009
- EX-99ARE
- Q4 2001
- EX-99ARE
Presentations
8 documents
Transcripts
0 documentsNo transcripts for Alexandria Real Estate Equities are held in this edition of the library.
Mentioned by
1 companyOther tracked companies whose held documents mention Alexandria Real Estate Equities by name or ticker. A mention is counted once per document, from the document text the library holds.
“d (ii) permanent conversion of space for highly… …(loss) income per share attributable to Alexandria Real Estate Equities, Inc.’s common stockholders: Basic $ (0.43) $ 2.10 $ (6.35) $ (1.38) $ (0.64) $ 1.68 $ (0.71) Diluted $ (0.43) $ 2.10 $ (6.3”
See also the earnings calendar for every tracked company’s next earnings date.