Alexandria Real Estate Equities Inc.
ARE - Insider Information
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+ FollowMarket Cap$7.85B
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Earnings Call Q3 2024
October 22, 2024 - AI Summary
**Strong Financial Performance**: Alexandria Real Estate Equities reported a 10.9% increase in total revenues and a 12.5% rise in NOI for Q3 2024 compared to Q3 2023. FFO per share diluted as adjusted was $2.37, representing a 4.9% increase year-over-year, aligning with market expectations. These results showcase the company's disciplined execution of its mega campus strategy and its focus on high-quality cash flows, with collections remaining exceptionally high at 99.9%.
**Outlook for Rental Rate Growth**: The company expects solid rental rate growth for the full year 2024, forecasting an increase of 11% to 19% and 5% to 13% on a cash basis. Year-to-date rental rate growth achieved 16.4% on a GAAP basis and 8.9% on cash basis, indicating strong tenant demand and retention with an impressive weighted average lease duration of around 9.7 years.
**Strong Development Pipeline**: Alexandria has a robust development pipeline of approximately 5.5 million rentable square feet that is expected to generate $510 million in incremental net operating income (NOI) over the next 3.5 years. The company delivered 316,000 square feet during Q3, which was fully leased, supporting its growth plans despite a challenging leasing environment for longer-term projects.
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$124.36
170.4% upside
Current Fair Value
170.4% upsideUndervalued by 170.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $7.85 Billion |
|---|---|
| Enterprise Value | $20.20 Billion |
| Annual dividend | $3.48 |
| Dividend yield | 7.16% |
| Earnings per Share | $-8.44 |
| Beta | 1.18 |
| Outstanding Shares | 170,751,000 |
Return
| Return on Equity | -8.42% |
|---|---|
| Return on Assets | -3.78% |
| Return on Invested Capital | -4.08% |
Valuation & Multiples
| P/E Ratio | -5.07 |
|---|---|
| PEG | -2.96 |
| Price to Sales | 2.88 |
| Price to Book Ratio | 0.41 |
| Enterprise Value to Revenue | 6.98 |
| Enterprise Value to EBIT | -16.52 |
| Enterprise Value to Net Income | -16 |
| Total Debt to Enterprise | 0.63 |
| Debt to Equity | 0.82 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 26, 2026
EPS Estimate
$-0.03
Consensus analyst estimateRevenue Estimate
$646.26 M
Consensus analyst estimateNext Earnings Call
Expected Date
January 25, 2027
EPS Estimate
$-0.02
Consensus analyst estimateRevenue Estimate
$638.07 M
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 176.23% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.59%▼ 88.99% |
|---|---|
| Total Invested | $230.00M▼ 97.48% |
| Investors Holding | 177▼ 442.00% |
About Alexandria Real Estate Equities Inc.
514 employees
CEO: Peter Moglia
Alexandria Real Estate Equities, Inc. (NYSE:ARE) stands as a prominent S&P 500® urban office real estate investment trust (REIT). Distinguished as the inaugural and most experienced owner, operator, and developer in its field, Alexandria...