Alexandria Real Estate Equities Inc. (ARE)

NYSE: ARE · USD

$39.8

-1.05 (-2.6%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-17

Our latest published analysis: ARE rated Hold

Alexandria Real Estate Equities Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$43.0 / share

Potential value

$49.1 / share

Upside to FV

+3.4%

from $39.8

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$7.2B
Revenue (ttm)	2.8B
Net income (ttm)	-1.4B
EPS (ttm)	-$8.40
Shares out	174.2M
P/E (forward)	16.7x
Dividend	$2.88 (7.26%)
Volume	5,026,386
Beta	1.18

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 2.8B
Net income (ttm): -1.4B
EPS (ttm): -$8.40
P/E (forward): 16.7x
Market cap: $7.2B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$2.11B	$2.58B	$2.84B	$3.05B	$2.97B	+8.9%
Gross profit	$1.49B	$1.79B	$1.98B	$2.14B	$2.05B	+8.3%
Operating income	$530.3M	$764.9M	$355.2M	$696.6M	$-990.0M	—
Net income	$571.2M	$521.7M	$103.6M	$322.9M	$-1.43B	—
EPS (diluted)	$3.82	$3.18	$0.54	$1.80	$-8.44	—
EBITDA	$1.35B	$1.77B	$1.45B	$1.90B	$360.5M	-28.1%
R&D	$0	$0	$0	—	—	-73.6%
SG&A	$151.5M	$177.3M	$199.4M	$168.4M	$117.0M	-6.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	Giảm
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	Bán
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	Mua
DLR	Digital Realty Trust, Inc.	68B	86.6x	10.0x	2.4%	+9.3%	+3.7%	Bán
DOC	Healthpeak Properties, Inc.	13B	53.8x	4.4x	2.5%	+10.5%	+3.0%	Mua mạnh
EQIX	Equinix Inc.	99.7B	65.0x	10.1x	5.6%	+11.2%	+21.2%	Giảm

Base and Bull scenarios

Base55%

Price target

$43.02

+3.4% from spot

In the Base case, Alexandria achieves Fair value of $43.02 representing a return of 3.4% with a probability of 55.0%. This path requires steady lease absorption across the development pipeline, normalization of construction capital expenditures toward guided levels, and successful completion of planned capital recycling to stabilize leverage. The scenario would be disconfirmed if cash renewal spreads deteriorate deeper than expected or if tenant downtime extends across upcoming expirations.

Core mega-campus occupancy stabilizes as newly delivered space reaches occupancy
Annual construction capital expenditures moderate in line with management guidance
Asset sales and joint venture transactions close without significant pricing discounts

Bull20%

Price target

$49.06

+17.9% from spot

In the Bull case, Alexandria reaches Potential value of $49.06 representing an attractive return of 17.9% with a probability of 20.0%. This outcome requires a strong rebound in biotechnology venture funding that accelerates life science leasing, returns cash renewal spreads to positive territory, and allows expedited debt repayment through premium asset valuations. The path would be disconfirmed if secondary submarket lab vacancy persists and renewal spreads remain constrained.

Accelerated biotechnology venture capital funding drives renewed wet-lab demand
Cash renewal rental rate growth turns positive across primary innovation clusters
Joint venture transactions close at premium pricing, enabling rapid debt reduction

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($43.02). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.2%	$47.3	$48.8	$50.5	$52.4	$54.4
8.7%	$43.8	$45.1	$46.5	$48.0	$49.7
9.2%	$40.7	$41.8	$43.0	$44.3	$45.7
9.7%	$38.1	$39.0	$40.1	$41.1	$42.3
10.2%	$35.8	$36.6	$37.5	$38.4	$39.4

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.7

P25 n/aP50 n/aP75 n/a

Trailing P/E0

P25 n/aP50 n/aP75 n/a

ROE-6.2

P25 n/aP50 n/aP75 n/a

ROIC0.9

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ARE indicators

Market & fundamental data

Available fields

234

Groups with data

Currency

USD

Showing 234 of 234 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001035443
Company name	Alexandria Real Estate Equities, Inc.
Country	United States
Country code	US
CUSIP number	015271109
Earnings date	2026-10-26
Earnings time	amc
Employees	514
Employees change	-38
Employees growth	-6.88%
Enterprise value	$19.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1994
In index	SP500
Industry	REIT - Office
IPO date	1997-05-27
Is primary listing	Yes
Is SPAC	No
ISIN number	US0152711091
Last 10-K release date	2026-01-26
Last earnings date	2026-10-26
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$6.9B
Market cap category	Mid-Cap
Next earnings date	2027-01-25
Options	Yes
Price	$39.81
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	ARE
U.S. state	California
Website	https://www.are.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	76.67x
Average P/E ratio (5Y)	86.19x
Earnings yield	-21.1%
EV/EBIT	39.74x
EV/EBITDA	11.48x
EV/Sales	7.07x
FCF / EV yield	-2.42%
FCF yield	-6.99%
Forward EV/Sales	7.55x
Forward P/S	2.62x
Industry forward P/E	241.51x
P/(OCF - SBC) ratio	5.89x
P/B ratio	0.47x
P/FFO ratio	4.01x
P/OCF ratio	5.69x
P/S ratio	2.45x
Price / tangible book value	0.46x
Price/EBITDA ratio	3.98x
Sector forward P/E	29.99x
Sector P/E	40.99x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	17.78%
EBITDA margin	61.57%
Gross margin	67.68%
Operating margin	17.78%
Pretax margin	-44.75%
Profit margin	-51.81%
Profit per employee	$-2.8M
Revenue per employee	$5.4M
ROA	0.86%
ROA (5Y)	1.25%
ROCE	1.48%
ROE	-6.25%
ROE (5Y)	0.98%
ROIC	0.92%
SBC / revenue	1.5%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth years	0
Net income growth years	0
OCF growth	-13.67%
OCF growth (Q)	-21.15%
OCF growth (QoQ)	1.44%
OCF growth 10Y	11.84%
OCF growth 3Y	-9.51%
OCF growth 5Y	4.92%
Revenue growth	-9.78%
Revenue growth (Q)	-10.75%
Revenue growth (QoQ)	1.22%
Revenue growth 10Y	11.9%
Revenue growth 3Y	-0.48%
Revenue growth 5Y	6.58%
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.7B
Depreciation and amortization	$1.2B
EBIT	$490.7M
EBITDA	$1.7B
EPS	$-8.40
FCF per share	$-2.71
Financing cash flow	$-1.9B
Free cash flow	$-472.6M
Free cash flow minus SBC	$-514M
Funds from operations (FFO)	$1.7B
Gross profit	$1.9B
Investing cash flow	$633.7M
Net cash flow	$-70.4M
Net income	$-1.4B
Operating cash flow minus SBC	$1.1B
Operating income	$490.7M
Revenue	$2.8B
Stock-based compensation	$41.4M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$86.67
Debt / EBITDA	7.66
Debt / equity	0.72
Interest coverage	1.79
Net cash (debt)	$-12.7B
Net cash / market cap	-188.57%
Net debt / EBITDA	7.5
Net debt / equity	0.69
Piotroski F-Score	4
Property, plant and equipment	$28.7B
Shareholders' equity	$18.4B
Tangible book value	$14.6B
Tangible book value per share	$85.74
Total assets	$34.1B
Total cash	$508.9M
Total debt	$13.3B
Total liabilities	$15.6B
WACC	4.71%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.08
Current ratio	2.15
Net working capital	$991.9M
Quick ratio	1.8
Working capital	$1.1B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.09%
Dividend growth	-45.45%
Dividend growth (10Y)	-0.95%
Dividend growth (3Y)	-16.23%
Dividend growth (5Y)	-8.21%
Dividend growth years	0
Dividend payment date	2026-10-15
Dividend payment years	30
Dividend payout frequency	Quarterly
Dividend per share	$2.88
Dividend yield	7.26%
Ex-dividend date	2026-09-30
Last dividend	$0.72
Shareholder yield	7.54%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-62.13%
10Y return CAGR	-5.83%
10Y total return	-45.13%
150-day SMA	$48.49
15Y price change	-41.26%
15Y return CAGR	0.07%
15Y total return	1.03%
1D price change	-2.57%
1M price change	-20.27%
1M total return	-19.07%
1W price change	-5.8%
1W total return	-5.8%
1Y price change	-48.88%
1Y return CAGR	-45.83%
1Y total return	-45.81%
20-day SMA	$43.59
200-day SMA	$49.70
20Y price change	-59.37%
20Y return CAGR	-0.98%
20Y total return	-17.94%
3M price change	-22.53%
3M total return	-21.37%
3Y price change	-56.57%
3Y return CAGR	-20.07%
3Y total return	-48.93%
50-day SMA	$48.55
50-day SMA vs 200-day SMA	50under200
52-week high	$69.78
52-week high date	2025-10-28
52-week low	$38.35
52-week low date	2026-10-28
5Y price change	-80.67%
5Y return CAGR	-24.6%
5Y total return	-75.63%
6M price change	-12.62%
6M total return	-10.14%
All-time high	$224.95
All-time high date	2021-12-31
All-time low	$20.63
All-time low date	1997-05-28
Average true range (ATR)	$1.82
Average volume	2.6M
Beta (1Y)	0.42
Beta (2Y)	0.72
Beta (5Y)	1.18
Change from 52-week high	-42.95%
Change from 52-week low	3.83%
Change from all-time high	-82.3%
Change from all-time low	93.02%
Change from open	-1.46%
Day's gap	-1.13%
Dollar volume	$200.1M
High price	$40.93
Low price	$38.35
Monthly RSI	30.24
Open price	$40.40
Position in 52-week range	56.59%
Premarket change	-0.51%
Premarket close	$40.86
Premarket price	$40.65
Premarket volume	3.9K
Previous close	$40.86
Price vs 150-day SMA	-17.9%
Price vs 20-day SMA	-8.68%
Price vs 200-day SMA	-19.89%
Price vs 50-day SMA	-18%
Relative volume	1.91
RSI	30.92
Sharpe ratio	-1.1
Sharpe ratio (3Y)	-0.53
Sharpe ratio (5Y)	-0.75
Sortino ratio	-1.28
Sortino ratio (3Y)	-0.57
Sortino ratio (5Y)	-0.84
Volume	5M
Weekly RSI	36
YTD price change	-18.66%
YTD total return	-15.02%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	154.8M
Float percentage	88.86%
Shares change (QoQ)	0.02%
Shares change (YoY)	-0.09%
Shares held by insiders	1.62%
Shares held by institutions	89.66%
Shares outstanding	174.2M
Short % of float	5.09%
Short % of shares	4.53%
Short ratio	4.3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	144

Deeper analysis on ARE

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ARE report

What is the latest published ARE stock rating?

Alexandria Real Estate Equities Inc. is shown with Hold in the latest published report, analyzed 2026-10-17. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ARE analysis?

The full latest published report, analyzed 2026-10-17, lives at /stocks/ARE/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ARE?

The latest published report analyzed 2026-10-17 gives ARE a fair value of USD 43 and a potential value of USD 49. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ARE page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-17). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldARE · Fair value $43.0+3.4%

Read full analysis →

Alexandria Real Estate Equities Inc. (ARE)

Our latest published analysis: ARE rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · ARE

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ARE indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on ARE

Frequently asked questions

Lịch sử xếp hạng

Category	Score	Reading
Valuation	6.0
Management	7.5
Balance Sheet	7.5
Profitability	1.5
Revenue Growth	2.5
Risk Assessment	7.0
Competitive Moat	6.5
Earnings Quality	3.0
Capital Efficiency	2.5