Alexandria Real Estate Equities (ARE)
NYSE:ARE
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Earnings Data
Report Date
Jul 27, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.11Last Year’s EPS
-0.64Same Quarter Last Year
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced picture: solid corporate-level strengths (strong liquidity, long debt duration, active disposition pipeline, dominant market share in core markets, G&A reductions, and maintained full-year FFO midpoint) contrasted with meaningful near-term operational pressures (drop in occupancy, a double-digit same-property NOI decline, rental-rate pressure on renewals, elevated lease expirations and vacancy headwinds, and dependence on dispositions to reduce leverage). Management articulated clear mitigations (leasing momentum on development/redevelopment, JV/disposition flexibility, and capital/expense discipline) but multiple near-term execution and market risks remain.Company Guidance
FFO Results and 2026 Guidance
FFO per share diluted as adjusted of $1.73 for 1Q 2026; reaffirmed full-year 2026 midpoint guidance of $6.40 per share (range tightened). Fourth quarter 2026 guidance refined to $1.40–$1.50 (midpoint $1.45), representing only a $0.05 reduction from prior midpoint assumptions.
Strong Balance Sheet and Liquidity
Tremendous liquidity of $4.2 billion; longest average remaining debt maturity among S&P 500 REITs at 10 years. Realized $366 million gain from an unsecured bond tender that reduced overall debt. Reiterated 4Q 2026 net debt / annualized adjusted EBITDA target of 5.6–6.2x (expect leverage to decline in H2 2026).
Robust Disposition / Capital Recycling Plan
Large-scale dispositions and sales of partial interest plan centered on $2.9 billion midpoint for 2026 dispositions and sales; ~80% of the $2.9 billion midpoint is pending or identified and in process. Plan assumes 10–25% land and 75–90% core/noncore/JV mix.
Leasing Momentum in Development / Redevelopment
Development and redevelopment leasing and LOIs aggregated ~394,000 sq ft (118,000 sq ft executed; 276,000 sq ft signed LOIs). Cumulative leasing of vacant space of 1.1 million sq ft expected to deliver on average in September. Q2 early activity suggests an uptick to ~900,000 sq ft of expected leasing volume.
Market Share and Mega Campus Strength
Demonstrated leasing outperformance in largest markets: Greater Boston captured ~20% of total leases (153% of Alexandria's market share), SF Bay ~30% (253% of market share), San Diego ~67% (208% of market share). Mega campuses represent 78% of total ARR.
High-Quality Tenant Base and Lease Profile
55% of annual rental revenue (ARR) from investment-grade or publicly traded large-cap tenants; top 20 tenants ~80% investment grade/large-cap with nearly a 10-year weighted average lease term for top 20. Rent steps approaching ~3% on 97% of leases; adjusted EBITDA margin of 66% for 1Q 2026.
Operational and Expense Progress
G&A savings of $7.4 million compared with 2024 quarterly average; on track to achieve 2026 G&A guidance of $134–$154 million (around 14% savings at midpoint vs 2024). Combined 2025–2026 G&A savings expected ~ $76 million vs 2024.
Active Development Pipeline and Delivery
1.9 million sq ft of projects under construction (77% leased), including ~600,000 sq ft expected to stabilize in 2026 (93% leased). 1.6 million sq ft across five projects under evaluation for business/financial strategy with milestones into 2027.
Record Disposition Pricing Demonstrates Asset Value
Disposition of 409/499 Illinois Street in Mission Bay closed at $1,645 per sq ft — the highest ever achieved for a lab asset in San Francisco — demonstrating strong pricing for high-quality life science assets (asset was 40% occupied).
ARE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ARE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 27, 2026 | $45.56 | $40.41 | -11.30% |
Jan 26, 2026 | $56.27 | $57.23 | +1.71% |
Oct 27, 2025 | $75.54 | $61.06 | -19.17% |
Jul 21, 2025 | $74.74 | $77.05 | +3.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Alexandria Real Estate Equities (ARE) report earnings?
Alexandria Real Estate Equities (ARE) is schdueled to report earning on Jul 27, 2026, After Close (Confirmed).
What is Alexandria Real Estate Equities (ARE) earnings time?
Alexandria Real Estate Equities (ARE) earnings time is at Jul 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ARE EPS forecast?
ARE EPS forecast for the fiscal quarter 2026 (Q2) is 0.11.