ARE · Alexandria Real Estate Equities, Inc.
Market Cap
$8.99B
Shares
174.25M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$51.57
Open$52.49
Day$51.54–52.81
52W close$40.41–87.45
Avg vol 30d2.0M
Short int6.8M · 3.9% float · 3.3d
Short vol49%
Last earningsOct 27, 2026
DataJan 2020–Aug 2026
Filing10-Q · Aug 3
Up next
Next earnings call
Oct 27, 2026
Scheduled
· in 8 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 3, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Buy
Momentum
Neutral
Sentiment
Bullish
Fundamentals
Weak
Quant / Vol
Very High
Market backdrop
VIX 14.4 · calm
Equity put/call 0.62
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+3%
above
Price vs 50-day avg
+2%
above
RSI (14)
53
neutral
MACD trend
Positive
52-week position
24%
mid-range
Momentum
relative strength
1-month return
0%
trailing
6-month return
+1%
trailing
YTD return
+5%
this year
Relative strength
−13%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $51 › 200d $50 — 50d above 200d
Institutional flow
Accumulating
+4% holders QoQ · +108 funds added
Insider flow
Accumulating
Net +$231.4K over 90 days · 0% sells
Short interest
Falling
3.91% of float · ▼ -1.0% MoM · 3.3 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
600 holders — mid 3-yr range
Squeeze score
51
elevated · 0–100
Fundamentals
Revenue growth
−3%
Y/Y
EPS growth
−569%
Y/Y
Buyback
$500.0M
remaining
Balance sheet
$11.9B
net debt
Quant / Vol
risk profile
Volatility
47%
annualized · 1-yr
Max drawdown
−54%
past year
ATR
3.7%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 3, 2026
4Q26
Funds from operations per share – diluted, as adjusted
Non-GAAP
Initiated
$1.40 – $1.50
December 31, 2026
Occupancy of operating properties
86.2% – 87.8%
2026
Same property net operating income changes
-10.5% – -8.5%
Same property net operating income changes (cash basis)
-10.5% – -8.5%
Lease renewals and re-leasing rental rate changes
-9% – -1%
Lease renewals and re-leasing rental rate changes (cash basis)
-15% – -7%
Prior guidance
period ended
· from the Earnings Call filed Sep 30, 2025
Year-end occupancy
· year-end 2025
90% – 91.6%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+3%
Bullish
Price vs 50-day avg
+2%
Bullish
RSI (14)
53
Neutral
MACD trend
Positive
Bullish
52-week position
24%
Neutral
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross)
No cross
50d $51 › 200d $50 — 50d above 200d
Institutional flow
Accumulating
+4% holders QoQ · +108 funds added
Insider flow
Accumulating
Net +$231.4K over 90 days · 0% sells
Short interest
Falling
3.91% of float · ▼ -1.0% MoM · 3.3 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
600 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $40
Now $52 · 24%
Range high $87
vs 200-day avg +3%
vs 50-day avg +2%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| 2027 Key lease expirations annual rental revenue | $100.5M | 2027 | — |
| 2027 Key lease expirations RSF | 1,377,960 | 2027 | — |
| 2Q26 rents and receivables collected as of August 3, 2026 | 99.9% | 2Q26 | — |
| 3000 Minuteman Road building placed back into operation RSF | 159,947 | 2Q26 | — |
| Adjusted EBITDA non-GAAP | $441.28M | Three Months Ended 6/30/26 | — |
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| Adjusted EBITDA margin non-GAAP | 67% | 2Q26 | — |
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| Adjusted EBITDA – quarter annualized non-GAAP | $1.77B | Three Months Ended 6/30/26 | — |
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| Adjusted EBITDA – trailing 12 months non-GAAP | $1.94B | Trailing 12 months ended 6/30/26 | -9.3% |
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| Annual rental revenue per occupied RSF | $60.45 | Three Months Ended 6/30/26 | — |
| Cash interest and fixed charges non-GAAP | $133.29M | Three Months Ended 6/30/26 | — |
GAAP → non-GAAP reconciliationGAAP Interest expense 64.34M
+73.72M Capitalized interest
-4.42M Amortization of loan fees
-352K Amortization of debt discounts
= Cash interest and fixed charges 133.29M
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| Common stock dividend declared per share | $0.72 | 2Q26 | — |
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| Common stock dividend payout ratio | 42% | three months ended June 30, 2026 | — |
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| Common stock dividend yield | 5.4% | as of June 30, 2026 | — |
| Common stock repurchase program authorized | $500M | as of June 30, 2026 | — |
| Common stock repurchase program remaining available | $500M | as of June 30, 2026 | — |
| Completed dispositions | $170.4M | as of August 3, 2026 | — |
| Development and redevelopment – under construction | 12 | As of June 30, 2026 | — |
| Development fees and other related revenues recognized in 1H26 | $5.6M | 1H26 | — |
| Development – placed into service after January 1, 2025 | 8 | As of June 30, 2026 | — |
| Executed Leases RSF (Occupancy Upon Completion) | 1.4M | June 30, 2026 | — |
| Executed Leases RSF as % of Total Operating RSF | 4% | June 30, 2026 | — |
| Expected increase in annual net operating income (cash basis) from recently delivered projects u | $40M | 2Q26 | — |
| Funds from operations attributable to Alexandria's common stockholders – diluted, as adjusted non-GAAP | $296.1M | three months ended June 30, 2026 filing | — |
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| Funds from operations per share attributable to Alexandria's common stockholders – diluted, as a non-GAAP | $1.73 | three months ended June 30, 2026 filing | — |
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| General and administrative expenses as percentage of net operating income (trailing twelve month | 6.6% | trailing twelve months ended June 30, 2026 | — |
| In-process dispositions, sales of partial interests, and other capital sources | $1.1B | as of August 3, 2026 | — |
| Incremental annual net operating income delivered during 2Q26 from development and redevelopment | $57M | 2Q26 | — |
| Incremental annual net operating income delivered from project placed into service in 2Q26 (4135 | $57M | 2Q26 | — |
| Incremental Annual Net Operating Income – Expected to be placed into service in 2027-2028 | $93M | 2027-2028 | — |
| Incremental Annual Net Operating Income – Expected to be placed into service in 2H26 | $42M | 2H26 | — |
| Incremental Annual Net Operating Income – Placed into service in 1H26 | $58M | 1H26 | — |
| Leases on annual rental revenue basis that were triple net leases | 91% | As of June 30, 2026 | — |
| Leasing of development and redevelopment space | 68,771 | 2Q26 | — |
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| Letters of intent for advanced technology use at 311 Arsenal Street redevelopment project | 108,800 | 2Q26 | — |
| Megacampus Annual Rental Revenue | $1.44B | as of June 30, 2026 | — |
| Megacampus as a percentage of annual rental revenue | 80% | as of June 30, 2026 | — |
| Megacampus as a percentage of total development and redevelopment pipeline RSF | 79% | as of June 30, 2026 | — |
| Megacampus Development and Redevelopment Pipeline RSF | 16,828,718 | as of June 30, 2026 | — |
| Net cash provided by operating activities, as adjusted non-GAAP | $340.94M | Six Months Ended 6/30/26 | — |
| Net cash provided by operating activities, as adjusted, retained for reinvestment (2022-2025 plu non-GAAP | $2.6B | years ended December 31, 2022 through 2025 and midpoint of 2026 | — |
| Net debt and preferred stock non-GAAP | $12.4B | as of 6/30/26 | — |
| Net operating income non-GAAP | $902.33M | Six Months Ended 6/30/26 | — |
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| Net operating income (cash basis) non-GAAP | $856.68M | Six Months Ended 6/30/26 | — |
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| Net operating income (cash basis) annualized non-GAAP | $1.75B | Three Months Ended 6/30/26 | — |
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| Non-income-producing assets as a percentage of gross assets | 16% | 2Q26 | — |
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| Number of properties – operating and development and redevelopment projects under construction | 336 | As of 6/30/26 | — |
| Number of same properties | 288 | Six Months Ended June 30, 2026 | — |
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| Occupancy of operating and redevelopment properties (excluding assets held for sale) | 83.6% | As of 6/30/26 | — |
| Occupancy of operating properties | 86.9% | 2Q26 | — |
| Occupancy of operating properties (excluding assets held for sale) | 86.9% | As of 6/30/26 | — |
| Occupancy of operating properties, including executed leases with future occupancy | 90.9% | 2Q26 | — |
| Occupancy – current-period average | 88.2% | Six Months Ended June 30, 2026 | — |
| Occupancy – same-period prior-year average | 92.6% | Three Months Ended June 30, 2026 filing | — |
| Occupied/Leased/Negotiating Percentage – Expected to be placed into service in 2027-2028 | 68% | 2027-2028 | — |
| Occupied/Leased/Negotiating Percentage – Expected to be placed into service in 2H26 | 84% | 2H26 | — |
| Occupied/Leased/Negotiating Percentage – Placed into service in 1H26 | 91% | 1H26 | — |
| Operating and Redevelopment Occupancy | 83.6% | 6/30/26 | — |
| Operating margin | 69% | 2Q26 | — |
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| Operating Occupancy (Operating Properties) | 86.9% | 6/30/26 | — |
| Pending dispositions and sales of partial interests (share) | $1.16B | as of August 3, 2026 | — |
| Percentage change in net operating income (cash basis) over comparable period from prior year | -8.6% | Three Months Ended June 30, 2026 filing | — |
| Percentage change in net operating income over comparable period from prior year | -10.6% | Three Months Ended June 30, 2026 filing | — |
| Percentage of annual rental revenue from investment-grade or publicly traded large cap tenants | 57% | As of June 30, 2026 | — |
| Percentage of leases containing annual rent escalations | 97% | As of June 30, 2026 | — |
| Percentage of leases providing for the recapture of capital expenditures | 91% | As of June 30, 2026 | — |
| Percentage of Top 20 Tenant annual rental revenue from investment-grade or publicly traded large | 88% | As of 6/30/26 | — |
| Percentage of triple net leases | 91% | As of June 30, 2026 | — |
| Previously vacant/developed/redeveloped space leased RSF | 477,882 | Six Months Ended June 30, 2026 | — |
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| Properties held for sale | 23 | As of June 30, 2026 | — |
| Remaining capital sources alternatives under evaluation | $471M | as of August 3, 2026 | — |
| Renewed/re-leased space rental rate changes (cash basis) | -4.3% | Three Months Ended June 30, 2026 | — |
| Renewed/re-leased space rental rate changes (including straight-line rent) | -0.7% | Three Months Ended June 30, 2026 | — |
| Renewed/re-leased space RSF | 1,021,685 | Six Months Ended June 30, 2026 | — |
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| Rentable square feet | 31,448,559 | Six Months Ended June 30, 2026 | — |
| Rents and receivables for the three months ended June 30, 2026, collected as of the date of this | 99.9% | three months ended June 30, 2026 filing | — |
| RSF | 31,733,905 | Three Months Ended June 30, 2026 filing | — |
| RSF placed into service in 2Q26 development project (4135 Campus Point Court) | 426,927 | 2Q26 | — |
| RSF – Expected to be placed into service in 2027-2028 | 1,258,004 | 2027-2028 | — |
| RSF – Expected to be placed into service in 2H26 | 174,662 | 2H26 | — |
| RSF – Placed into service in 1H26 | 532,219 | 1H26 | — |
| Same properties | 288 | as of June 30, 2026 | — |
| Same Properties RSF | 31,733,905 | the three months ended June 30, 2026 filing | — |
| Same property net operating income changes | -10.6% | 2Q26 | — |
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| Same property net operating income changes (cash basis) | -8.6% | 2Q26 | — |
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| Same Property Occupancy – current-period average | 87.1% | Three Months Ended 6/30/26 | — |
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| Same property occupancy – same-period prior-year average | 92.6% | the three months ended June 30, 2026 filing | — |
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| Top 20 tenants aggregate RSF | 9,649,780 | As of June 30, 2026 | — |
| Top 20 tenants weighted-average remaining lease term | 10 | As of June 30, 2026 | — |
| Total Annual Rental Revenue | $1.85B | June 30, 2026 | — |
| Total Incremental Annual Net Operating Income from Development and Redevelopment Pipeline | $135M | Total pipeline | — |
| Total leasing activity – RSF | 1,038,917 | Three Months Ended 6/30/26 | — |
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| Total Leasing Volume | 1.04M | 2Q26 | — |
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| Total Number of Properties | 336 | June 30, 2026 | — |
| Total properties as of June 30, 2026 | 336 | as of June 30, 2026 | — |
| Total properties excluded from same properties | 48 | as of June 30, 2026 | — |
| Total RSF (Operating, Development, Redevelopment) | 38,858,653 | June 30, 2026 | — |
| Total square footage | 59,297,725 | As of 6/30/26 | — |
| Unconsolidated real estate JVs | 3 | As of June 30, 2026 | — |
| Unencumbered net operating income non-GAAP | $455.45M | Three Months Ended June 30, 2026 filing | — |
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| Unencumbered net operating income as a percentage of total net operating income non-GAAP | 100% | Three Months Ended 6/30/26 | — |
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| Weighted-average remaining lease term: All tenants | 7.7 | 2Q26 | — |
| Weighted-average remaining lease term: Top 20 tenants | 10 | 2Q26 | — |
| 1Q26 G&A savings compared to 2024 quarterly average | $7.4M | Q1 2026 | — |
| 1Q26 rents and receivables collected as of April 27, 2026 | 99.9% | 1Q26 | — |
| 2026 key lease expirations RSF | 657,492 | Three Months Ended March 31, 2026 | — |
| annual rental revenue from 2027 lease expirations | $97.4M | 2027 | — |
| Average real estate basis capitalized | $6.86B | 1Q26 | — |
| Class A/A+ properties undergoing construction (RSF) | 3.4M | As of March 31, 2026 | — |
| Debt interest rate | 4.06% | Q1 2026 | — |
| Decrease in net operating income (cash basis) compared to 1Q25 | -15.2% | 1Q26 | — |
| Developed/redeveloped RSF | 117,935 | Three Months Ended March 31, 2026 | — |
| Dispositions and sales of partial interests in process or pending | $2.33B | Q1 2026 | — |
| Dividend yield | 6.2% | As of March 31, 2026 | — |
| Funds from operations per share attributable to Alexandria's common stockholders – diluted non-GAAP | $3.73 | Three Months Ended 3/31/26 | — |
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| G&A expenses as a percentage of net operating income | 6% | Trailing twelve months ended March 31, 2026 | — |
| Gain on sale of real estate – 409 and 499 Illinois Street disposition | $416.7M | 4Q25 | — |
| General and administrative expenses | $34.7M | 1Q26 | — |
| Gross assets | $40.56B | 3/31/26 | — |
| Incremental annual net operating income from development and redevelopment projects placed into | $92M | 1Q26 | — |
| Lease expirations RSF | 1,340,809 | Three Months Ended March 31, 2026 | — |
| Leased/Negotiating | 68% | 2027–2028 | — |
| Leased/Negotiating percentage of development and redevelopment projects placed into service 2Q26 | 93% | 1Q26 | — |
| leases expiring in 2027 (RSF) | 1.5M | 2027 | — |
| Leasing volume - Renewals & Re-leasing (RSF) | 647,356 | Q1 2026 | — |
| Occupancy – 409 and 499 Illinois Street as of 3Q25 | 40% | 3Q25 | — |
| operating properties (RSF) | 35.8M | As of March 31, 2026 | — |
| Original purchase price – 409 and 499 Illinois Street | $293M | 2011 | — |
| Our share of investment in development and redevelopment pipeline | $6.45B | March 31, 2026 | — |
| Percentage of 1Q26 leasing activity generated from existing tenant base | 72% | Q1 2026 | — |
| Percentage of fixed-rate debt since 2022 | 96.4% | Q1 2026 | — |
| Percentage of total debt maturing through 2028 | 9% | As of March 31, 2026 | — |
| Rental rate changes | -15% | 1Q26 | — |
| Rental rate changes (cash basis) | -15.8% | 1Q26 | — |
| RSF of development and redevelopment projects placed into service 2Q26-4Q26 | 601,589 | 1Q26 | — |
| RSF placed in service | 456,268 | 1Q26 | — |
| Sales price per RSF – 409 and 499 Illinois Street disposition | $1,645 | 4Q25 | — |
| Sales price – 409 and 499 Illinois Street disposition | $767.1M | 4Q25 | — |
| Significant liquidity | 4.17B | As of March 31, 2026 | — |
| Total Class A/A+ development and redevelopment pipeline | 18% | as of March 31, 2026 | — |
| Total Class A/A+ development and redevelopment pipeline, excluding properties held for sale | 17% | as of March 31, 2026 | — |
| Total debt and preferred stock to gross assets | 31% | As of March 31, 2026 | — |
| total market capitalization | $20.44B | As of March 31, 2026 | — |
| Total properties in North America as of March 31, 2026 | 339 | as of March 31, 2026 | — |
| Weighted-average lease term | 12 | Three Months Ended March 31, 2026 | — |
| Weighted-average remaining debt term | 10 | As of March 31, 2026 | — |
| 4Q25 dispositions | $1.47B | 4Q25 | — |
| 4Q25 tenant rents and receivables collected as of January 26, 2026 | 99.9% | 4Q25 | — |
| Annual rental revenue (Top 20 tenants) | $725.56M | December 31, 2025 | — |
| Annual rental revenue from investment-grade or publicly traded large cap tenants (Top 20) | 84% | December 31, 2025 | — |
| Annual rental revenue per occupied RSF – North America | $59.97 | Three Months Ended 12/31/25 | — |
| Book value of real estate assets designated as held for sale | $581.7M | As of December 31, 2025 | — |
| Common stock repurchase program authorization | $500M | As of December 8, 2025 | — |
| Diluted shares for funds from operations per share and funds from operations per share, as adjus non-GAAP | 170.39M | Year Ended 12/31/25 | — |
| Dividend payout ratio for the quarter | 33% | Three Months Ended 12/31/25 | — |
| Dividend yield – annualized | 5.9% | Three Months Ended 12/31/25 | — |
| Fixed-rate debt as a percentage of total debt | 97.2% | As of December 31, 2025 | — |
| Funds from operations attributable to Alexandria's common stockholders – diluted non-GAAP | $1.31B | Year ended December 31, 2025 | — |
GAAP → non-GAAP reconciliationGAAP Net (loss) income attributable to Alexandria's common stockholders – basic and diluted -1.44B
+1.34B Depreciation and amortization of real estate assets
-154.73M Noncontrolling share of depreciation and amortization from consolidated real estate JVs
+3.7M Our share of depreciation and amortization from unconsolidated real estate JVs
-330.12M Gain on sales of real estate
+1.89B Impairment of real estate – rental properties and land
-5.68M Allocation to unvested restricted stock awards
= Funds from operations attributable to Alexandria's common stockholders – diluted 1.31B
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| General and administrative cost reductions compared to 2024 | $51.3M | the year ended December 31, 2025 | — |
| General and administrative expenses as a percentage of net operating income | 5.6% | the year ended December 31, 2025 | — |
| General and administrative expenses as a percentage of net operating income –trailing 12 months | 5.6% | Three Months Ended 12/31/25 | — |
| Gross unrealized gains | $184.4M | As of December 31, 2025 | — |
| Gross unrealized losses | $51.1M | As of December 31, 2025 | — |
| Incremental annual net operating income from development/redevelopment placed in service | $10M | 4Q25 | — |
| Investment loss | $3.9M | 4Q25 | — |
| Key 2026 lease expirations as percent leased/negotiating | 13% | December 31, 2025 | — |
| Key 2026 lease expirations RSF | 1,161,459 | December 31, 2025 | — |
| Lease renewals and re-leasing of space – Rental rate changes | -9.9% | Three Months Ended 12/31/25 | — |
| Lease renewals and re-leasing of space – Rental rate changes (cash basis) | -5.2% | Three Months Ended 12/31/25 | — |
| Lease renewals and re-leasing rental rate changes | 7% | the year ended December 31, 2025 | — |
| Lease renewals and re-leasing rental rate changes (cash basis) | 3.5% | the year ended December 31, 2025 | — |
| Lease renewals and re-leasing RSF | 2,543,473 | the year ended December 31, 2025 | — |
| Leasing of development and redevelopment space – RSF | 704,821 | the year ended December 31, 2025 | — |
| Leasing volume | 1.2M | 4Q25 | — |
| Liquidity | $5.3B | As of December 31, 2025 | — |
| Net cash flows provided by operating activities after dividends retained for reinvestment | $2.36B | the years ended December 31, 2021 through 2025 | — |
| Non-real estate investments | $1.5B | As of December 31, 2025 | — |
| Occupancy of operating and redevelopment properties – North America | 86.9% | December 31, 2025 | — |
| Occupancy of operating properties in North America | 90.9% | As of December 31, 2025 | — |
| Occupancy of operating properties – North America | 90.9% | December 31, 2025 | — |
| Occupancy – current-period average (same properties) | 91% | Three months ended December 31, 2025 | — |
| Occupancy – current-period average (same properties, full year) | 92.5% | Year ended December 31, 2025 | — |
| Operating margin (same properties) | 67% | Three months ended December 31, 2025 | — |
| Operating margin (same properties, full year) | 68% | Year ended December 31, 2025 | — |
| Operating occupancy including leased but not yet delivered space | 93.4% | As of December 31, 2025 | — |
| Operating Properties occupancy percentage - Greater Boston | 86.4% | 12/31/25 | — |
| Operating Properties occupancy percentage - Maryland | 93.6% | 12/31/25 | — |
| Operating Properties occupancy percentage - New York City | 96.4% | 12/31/25 | — |
| Operating Properties occupancy percentage - Non-cluster/other markets | 91.2% | 12/31/25 | — |
| Operating Properties occupancy percentage - North America | 90.9% | 12/31/25 | — |
| Operating Properties occupancy percentage - North America (prior period) | 90.6% | 9/30/25 | — |
| Operating Properties occupancy percentage - Research Triangle | 95.2% | 12/31/25 | — |
| Operating Properties occupancy percentage - San Diego | 97.2% | 12/31/25 | — |
| Operating Properties occupancy percentage - San Francisco Bay Area | 90.9% | 12/31/25 | — |
| Operating Properties occupancy percentage - Seattle | 88.4% | 12/31/25 | — |
| Operating Properties occupancy percentage - Texas | 79.9% | 12/31/25 | — |
| Operating RSF at 100% - 101 West Dickman Street | 142,933 | As of December 31, 2025 | — |
| Operating RSF at 100% - 1655 and 1725 Third Street | 586,208 | As of December 31, 2025 | — |
| Percentage of annual rental revenue from Megacampus platform | 78% | As of December 31, 2025 | — |
| Percentage of fixed-rate debt since 2021 | 96.7% | As of December 31, 2025 | — |
| Previously vacant leasing activity – RSF | 393,376 | Three Months Ended 12/31/25 | — |
| Rentable square feet (same properties) | 30,622,240 | Three months ended December 31, 2025 | — |
| Rental rate changes (cash basis, renewed/re-leased space) | -5.2% | Three months ended December 31, 2025 | — |
| Rental rate changes (renewed/re-leased space) | -9.9% | Three months ended December 31, 2025 | — |
| RSF placed into service during 4Q25 | 139,979 | 4Q25 | — |
| RSF – North America (including development and redevelopment projects under construction) | 39,449,372 | December 31, 2025 | — |
| Same property net operating income changes (cash basis) – full year | 0.9% | Year ended December 31, 2025 | — |
| Same property net operating income changes – full year | -3.5% | Year ended December 31, 2025 | — |
| Share of annual net operating income from dispositions | $93M | Three months ended December 31, 2025 | — |
| Temporary vacancies as percent of total operating RSF | 2.5% | December 31, 2025 | — |
| Temporary vacancies RSF | 899,259 | December 31, 2025 | — |
| Tenant recoveries | $760.29M | Year Ended 12/31/25 | — |
| Top 20 Tenant aggregate RSF | 9,316,391 | December 31, 2025 | — |
| Top 20 Tenant share of Annual Rental Revenue | 38.4% | December 31, 2025 | — |
| Total 2025 dispositions and sales of partial interests | $1.81B | the year ended December 31, 2025 | — |
| Total consolidated annual net operating income from dispositions | $118M | Three months ended December 31, 2025 | — |
| Total leasing activity – RSF (full year) | 4,192,656 | Year ended December 31, 2025 | — |
| Total net operating income | $521.87M | Three Months Ended 12/31/25 | — |
| Total properties in North America | 340 | As of December 31, 2025 | — |
| Total square footage – North America | 59,382,079 | December 31, 2025 | — |
| Unrealized gains on non-real estate investments | $133.4M | As of December 31, 2025 | — |
| YTD 3Q25 dispositions | $341M | YTD 3Q25 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Office — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ARE
this stock
Alexandria Real Estate Equities, Inc.
|
$8.99B | +5.4% | -2.9% | — | 3.9% |
|
BXP
BXP, Inc.
|
$11.07B | +2.7% | +2.2% | 37.3 | 6.5% |
|
VNO
Vornado Realty Trust
|
$7.13B | +14.8% | +1.3% | 1273.3 | 5.0% |
|
CUZ
Cousins Properties Inc
|
$4.85B | +14.2% | +16.0% | 736.0 | 6.4% |
|
KRC
Kilroy Realty Corp
|
$4.21B | -3.1% | -2.0% | 19.8 | 7.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ARE | -3.6% | +0.2% | +0.8% | +0.2% | +5.4% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | -4.1% | -2.8% | -12.7% | -2.8% | -7.5% |
Capital returns
Latest dividend
$0.72
/ share · ex Jun 30, 2026
Paid (TTM)
$3.48
/ share · 4 payouts
Dividend yield (TTM, derived)
6.75%
Buyback program
· as of Aug 3, 2026
Authorized
$500.00M
Spent (derived)
$0
Remaining
$500.00M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1035443
CUSIP
015271109
13F (30d)
447 filings
420 filers
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Investor relations