Alexandria Real Estate Equities, Inc. - ARE STOCK NEWS

Alexandria Real Estate Equities (NYSE: ARE) reported its 3Q24 and YTD 3Q24 financial results. Key highlights include a 10.9% increase in total revenues for 3Q24 to $791.6 million and a 9.3% increase YTD to $2.33 billion. Net income per diluted share was $0.96 for 3Q24 and $2.18 YTD. Adjusted FFO per diluted share was $2.37 for 3Q24 and $7.08 YTD. The company maintained a high occupancy rate of 94.7% and collected 99.9% of 3Q24 tenant rents and receivables.

ARE declared a 3Q24 dividend of $1.30 per share, yielding 4.4%. The company has significant liquidity of $5.4 billion and expects to fund capital requirements through property sales. Recent transactions include the sale of a property for $150 million and lease renewals worth 117,479 RSF with Fred Hutchinson Cancer Center. ARE's development pipeline is expected to deliver incremental annual net operating income of $510 million by 1Q28.

Alexandria Real Estate Equities, Inc. (NYSE: ARE) has been named one of the World's Most Trustworthy Companies in 2024 by Newsweek. This recognition follows its listing as one of America's Most Trustworthy Companies in 2023 and 2024. The selection was based on an extensive independent survey analyzing investor, customer, and employee trust.

Alexandria, a pioneer in developing collaborative mega campuses for life science innovation, has generated a total shareholder return of 1,420% since its IPO in May 1997. The company's success is attributed to its strategic relationships with leading life science companies and its focus on creating vibrant, well-amenitized mega campuses.

The company prioritizes employee well-being through comprehensive benefits and career development opportunities, resulting in a low five-year average voluntary turnover rate of 4.1%. Alexandria also demonstrates commitment to corporate responsibility, addressing challenges such as disease, hunger, and mental health through various initiatives and partnerships.

Alexandria Real Estate Equities (NYSE: ARE) has completed the sale of 1165 Eastlake Avenue East in Seattle to Fred Hutch Cancer Center for $150.0 million at a 4.9% capitalization rate. The 100,086 RSF Class A+ life science facility was developed by Alexandria and delivered in 2021. As part of the transaction, Alexandria entered a strategic joint venture partnership with Fred Hutch for 1201 and 1208 Eastlake Avenue East, maintaining a 30% ownership interest in both properties.

Fred Hutch executed early renewals at both properties, including a 15-year lease extension at 1201 Eastlake. The sale proceeds will be reinvested into Alexandria's development pipeline, which is expected to deliver $480 million in incremental annual net operating income by Q1 2028 from 5.3 million RSF of Class A/A+ properties under construction.

Alexandria Real Estate Equities (NYSE: ARE) has been honored with a 2024 Sustainable Design Impact Award from Nareit for its innovative approach to reducing emissions in its Labspace® developments. The award recognizes Alexandria's groundbreaking use of alternative energy sources in its Greater Boston and Seattle markets.

Key highlights include:

• 325 Binney Street in Cambridge, designed to be the most sustainable laboratory building in the area
• 15 Necco Street in Boston, a high-performance laboratory facility
• The Alexandria Center® for Life Science – South Lake Union mega campus in Seattle, featuring one of North America's largest wastewater heat recovery systems

These projects demonstrate significant emissions reductions, with 325 Binney Street and 15 Necco Street achieving 97% and 96% reductions respectively compared to the Massachusetts 2020 Stretch Code baseline. The Seattle campus is expected to reduce greenhouse gas emissions by 99% compared to the average laboratory building in the area.

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced that its executive chairman and founder, Joel S. Marcus, will receive the inaugural Bisnow Life Sciences Icon & Influencer Award on September 11, 2024. This award recognizes Marcus and Alexandria's significant contributions to the life science real estate sector and broader industry. Marcus co-founded Alexandria in 1994, pioneering the life science real estate niche and transforming it into a mainstream asset class. The company's impact is evident in its ability to meet industry needs, foster strategic relationships, and create thriving life science ecosystems. Alexandria's tenants have been responsible for 50% of FDA-approved therapies since 2013. Marcus will also deliver a keynote speech at the International Life Sciences & Biotech Conference, discussing the industry's state and Alexandria's role in driving innovation for improved human health.

Alexandria Real Estate Equities (NYSE: ARE) has declared a quarterly cash dividend of $1.30 per common share for 3Q24, payable on October 15, 2024, to stockholders of record on September 30, 2024. This brings the total dividend for the 12 months ending September 30, 2024, to $5.14 per common share, representing a 5% increase from the previous year. The company maintains a low dividend payout ratio of 55% for Q2 2024, allowing significant reinvestment into its development projects. ARE expects to generate $2.1 billion in net cash for reinvestment over the five-year period ending December 31, 2024. This strategy aims to balance shareholder returns with continued growth opportunities.

Alexandria Real Estate Equities (NYSE: ARE) has announced its upcoming third quarter 2024 operating and financial results conference call and webcast, scheduled for October 22, 2024, at 3:00 p.m. Eastern Time. The company will release its Q3 2024 results after market close on October 21, 2024. Interested parties can participate by dialing (833) 366-1125 (U.S.) or (412) 902-6738 and asking to join the Alexandria Real Estate Equities call. A live audio webcast will be available on the company's investor website. A replay of the call will be accessible from October 22, 2024, at 5:00 p.m. ET until October 29, 2024, at 5:00 p.m. ET by dialing (877) 344-7529 (U.S.) or (412) 317-0088 with access code 1168152.

Alexandria Real Estate Equities (NYSE: ARE) announced its financial results for Q2 2024 and the first half of 2024. Key figures include a net income per share of $0.25 for Q2 and $1.22 for H1, while funds from operations (FFO) per share reached $2.36 and $4.71, respectively. Total revenues for Q2 were $766.7 million, up 7.4% YoY, and $1.54 billion for H1, up 8.6% YoY. The company's leasing volume exceeded 1.1 million RSF in Q2 and 2.26 million RSF in H1, with rental rate increases of 7.4% and 26.2% (cash basis). Alexandria maintains a strong balance sheet with $5.6 billion in liquidity, a fixed-charge coverage ratio of 4.5x, and 97.3% of debt at fixed rates. The company declared a Q2 dividend of $1.30 per share, yielding 4.4%. Alexandria's development pipeline is robust, with projects delivering $480 million in incremental annual net operating income by Q1 2028. The company also executed key capital events, including extending a senior line of credit and entering new forward equity sales agreements.

Alexandria Real Estate Equities (NYSE: ARE) has released its 2023 Corporate Responsibility Report.

Key highlights include:

The completion of a large-scale solar farm, supplying renewable power to meet 100% of the electricity load for Alexandria's Greater Boston region through a long-term power purchase agreement.

Celebrating the opening of Moderna's new HQ and R&D center in Cambridge, designed to be ultra-efficient and targeting LEED Zero Energy and LEED Platinum certifications.

Setting a new target to reduce operational GHG emissions intensity by 30% by 2030 from a 2022 baseline.

Achieving multiple sustainability milestones, such as outperforming a CRREM-aligned emissions reduction pathway and earning several accolades in the 2023 GRESB Real Estate Assessment.

The full report, developed in accordance with Global Reporting Initiative Standards and verified by DNV Business Assurance USA, Inc., is available on Alexandria's Corporate Responsibility page.