Alexandria Real Estate Equities Inc.
ARE
Market Cap$20.29B
Close$
Earnings Call Q2 2024
July 23, 2024 - AI Summary
Alexandria Real Estate Equities reported solid operating and financial results for the second quarter, with total revenues and NOI up 7.4% and 9.4% respectively compared to Q2 2023.
The company's FFO per share diluted as adjusted for the quarter was $2.36, a 5.4% increase over Q2 2023 and ahead of consensus expectations.
Leasing volume was strong in Q2, with 1.1 million square feet leased, driven by the execution of the development and re-development pipeline. Rental rate increases were also strong at 26.2% on a GAAP basis and 15% on a cash basis for the first half of 2024.
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$127.44
5.7% upside
Current Fair Value
5.7% upsideUndervalued by 5.7% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $20.29 Billion |
|---|---|
| Enterprise Value | $32.15 Billion |
| Dividend Yield | $5.0005 (4.31%) |
| Earnings per Share | $0.81 |
| Beta | 1.45 |
| Outstanding Shares | 174,926,073 |
Return
| Return on Equity | - |
|---|---|
| Return on Assets | - |
| Return on Invested Capital | - |
Valuation & Multiples
| P/E Ratio | 145.23 |
|---|---|
| PEG | 92.49 |
| Price to Sales | 7.09 |
| Price to Book Ratio | 0.93 |
| Enterprise Value to Revenue | 10.69 |
| Enterprise Value to EBIT | 29.3 |
| Enterprise Value to Net Income | 51 |
| Total Debt to Enterprise | 0.39 |
| Debt to Equity | 0.68 |
Revenue Sources
No data
Insider Trades
ESG Score
No data