Alexandria Real Estate Equities Inc.
ARE
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+ FollowMarket Cap$7.5B
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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
189.1% upside
Current Fair Value
189.1% upsideUndervalued by 189.1% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $7.50 Billion |
|---|---|
| Enterprise Value | $19.84 Billion |
| Dividend Yield | $3.48 (6.69%) |
| Earnings per Share | $-8.44 |
| Beta | 1.18 |
| Outstanding Shares | 188,380,000 |
Return
| Return on Equity | -5.83% |
|---|---|
| Return on Assets | -2.62% |
| Return on Invested Capital | -3.13% |
Valuation & Multiples
| P/E Ratio | -7.72 |
|---|---|
| PEG | 6.95 |
| Price to Sales | 2.87 |
| Price to Book Ratio | 0.43 |
| Enterprise Value to Revenue | 6.67 |
| Enterprise Value to EBIT | -21.14 |
| Enterprise Value to Net Income | -22 |
| Total Debt to Enterprise | 0.65 |
| Debt to Equity | 0.82 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
August 3, 2026
EPS Estimate
$0.09
Average shareholder expectationRevenue Estimate
$464.86 M
Average shareholder expectationNext Earnings Call
Expected Date
October 26, 2026
EPS Estimate
$-0.03
Average shareholder expectationRevenue Estimate
$646.26 M
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 176.23% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.42%▼ 90.18% |
|---|---|
| Total Invested | $125.77M▼ 98.62% |
| Investors Holding | 112▼ 507.00% |
ESG Score
No data
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...