(ARE) Alexandria Real Estate - Overview

Sector: Real Estate | Industry: REIT - Office | Exchange: NYSE (USA) | Market Cap: 7.837m USD | Total Return: -34% in 12m

Laboratory Spaces, Office Buildings, Research Campuses, Venture Capital
Total Rating 15
Safety 26
Buy Signal -0.54
REIT - Office
Industry Rotation: +1.7
Market Cap: 7.84B
Avg Turnover: 97.4M
Risk 3d forecast
Volatility45.0%
VaR 5th Pctl7.85%
VaR vs Median5.84%
Reward TTM
Sharpe Ratio-0.85
Rel. Str. IBD9.9
Rel. Str. Peer Group2
Character TTM
Beta0.747
Beta Downside1.162
Hurst Exponent0.517
Drawdowns 3y
Max DD65.64%
CAGR/Max DD-0.36
CAGR/Mean DD-0.92
EPS (Earnings per Share) EPS (Earnings per Share) of ARE over the last years for every Quarter: "2021-03": 0.72, "2021-06": 0.73, "2021-09": 0.7, "2021-12": 0.58, "2022-03": 0.71, "2022-06": 0.78, "2022-09": 0.35, "2022-12": 0.31, "2023-03": 0.83, "2023-06": 0.51, "2023-09": 0.87, "2023-12": 0.82, "2024-03": 0.89, "2024-06": 0.88, "2024-09": 0.87, "2024-12": 0.69, "2025-03": 0.51, "2025-06": 0.48, "2025-09": -1.38, "2025-12": -6.35, "2026-03": 2.1,
EPS CAGR: 30.23%
EPS Trend: -33.5%
Last SUE: 0.83
Qual. Beats: 0
Revenue Revenue of ARE over the last years for every Quarter: 2021-03: 478.695, 2021-06: 508.371, 2021-09: 550.85, 2021-12: 574.656, 2022-03: 612.554, 2022-06: 640.959, 2022-09: 656.853, 2022-12: 665.674, 2023-03: 687.949, 2023-06: 704.339, 2023-09: 707.531, 2023-12: 742.637, 2024-03: 755.551, 2024-06: 755.162, 2024-09: 775.744, 2024-12: 763.249, 2025-03: 743.175, 2025-06: 737.279, 2025-09: 735.849, 2025-12: 754.414, 2026-03: 671.022,
Rev. CAGR: 1.23%
Rev. Trend: 59.3%
Last SUE: -1.40
Qual. Beats: -3

Warnings

High Debt/EBITDA (30.7) with thin interest coverage (-3.8)

Interest Coverage Ratio -3.8 is critical

Tailwinds

No distinct edge detected

Description: ARE Alexandria Real Estate

Alexandria Real Estate Equities (ARE) is an S&P 500 real estate investment trust specializing in the life science sector. Founded in 1994, the company pioneered the Mega campus model, focusing on high-barrier-to-entry innovation clusters such as Greater Boston, San Francisco, and San Diego. Its portfolio consists primarily of Class A/A+ office and laboratory space designed to facilitate research and development for biotechnology and pharmaceutical tenants.

The business model integrates property management with a strategic venture capital platform that invests directly in transformative life science entities. Life science REITs typically benefit from high tenant retention rates due to the specialized, capital-intensive infrastructure required for laboratory environments, which makes relocation difficult for occupants. As of late 2025, Alexandria manages over 39 million rentable square feet of operating and development assets across North America.

Investors can further evaluate these operational metrics and valuation trends by visiting ValueRay. This specialized REIT structure aims to drive long-term asset value through high occupancy levels and extended lease terms supported by a diverse, creditworthy tenant base.

Headlines to Watch Out For
  • Biotechnology venture funding levels dictate demand for new laboratory space leasing
  • High interest rates increase debt servicing costs and pressure capitalization rates
  • Concentration in core life science clusters maintains high occupancy and pricing power
  • Clinical trial success rates drive tenant expansion within Mega campus ecosystems
  • Supply glut in secondary markets threatens rental growth and asset valuations
Piotroski VR‑10 (Strict) 3.0
Net Income: -1.02b TTM > 0 and > 6% of Revenue
FCF/TA: 0.04 > 0.02 and ΔFCF/TA 0.46 > 1.0
NWC/Revenue: -72.86% < 20% (prev -39.10%; Δ -33.75% < -1%)
CFO/TA 0.04 > 3% & CFO 1.40b > Net Income -1.02b
Net Debt (12.46b) to EBITDA (405.6m): 30.72 < 3
Current Ratio: 0.29 > 1.5 & < 3
Outstanding Shares: last quarter (188.4m) vs 12m ago 10.47% < -2%
Gross Margin: 68.25% > 18% (prev 0.70%; Δ 6.76k% > 0.5%)
Asset Turnover: 8.08% > 50% (prev 8.08%; Δ -0.00% > 0%)
Interest Coverage Ratio: -3.78 > 6 (EBITDA TTM 405.6m / Interest Expense TTM 240.4m)
Beneish M -2.93
DSRI: 1.22 (Receivables 327.0m/280.2m, Revenue 2.90b/3.04b)
GMI: 1.02 (GM 68.25% / 69.80%)
AQI: 1.00 (AQ_t 0.94 / AQ_t-1 0.95)
SGI: 0.95 (Revenue 2.90b / 3.04b)
TATA: -0.07 (NI -1.02b - CFO 1.40b) / TA 34.17b)
Beneish M-Score: -2.93 (Cap -4..+1) = A
What is the price of ARE shares? As of May 20, 2026, the stock is trading at USD 45.84 with a total of 1,461,513 shares traded.
Over the past week, the price has changed by -1.42%, over one month by -6.41%, over three months by -12.80% and over the past year by -33.99%.
Is ARE a buy, sell or hold? Alexandria Real Estate has received a consensus analysts rating of 3.54. Therefor, it is recommend to hold ARE.
  • StrongBuy: 3
  • Buy: 1
  • Hold: 9
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the ARE price?
Analysts Target Price 52.6 14.7%
Alexandria Real Estate (ARE) - Fundamental Data Overview as of 18 May 2026
P/E Forward = 16.6945
P/S = 2.6746
P/B = 0.5124
P/EG = 3.2356
Revenue TTM = 2.90b USD
EBIT TTM = -908.2m USD
EBITDA TTM = 405.6m USD
Long Term Debt = 11.17b USD (from longTermDebt, last quarter)
Short Term Debt = 1.35b USD (from shortTermDebt, last quarter)
Debt = 12.88b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 12.46b USD (from netDebt column, last quarter)
Enterprise Value = 20.30b USD (7.84b + Debt 12.88b - CCE 418.7m)
Interest Coverage Ratio = -3.78 (Ebit TTM -908.2m / Interest Expense TTM 240.4m)
EV/FCF = 14.47x (Enterprise Value 20.30b / FCF TTM 1.40b)
FCF Yield = 6.91% (FCF TTM 1.40b / Enterprise Value 20.30b)
FCF Margin = 48.39% (FCF TTM 1.40b / Revenue TTM 2.90b)
Net Margin = -35.30% (Net Income TTM -1.02b / Revenue TTM 2.90b)
Gross Margin = 68.25% ((Revenue TTM 2.90b - Cost of Revenue TTM 920.4m) / Revenue TTM)
Gross Margin QoQ = 66.60% (prev 69.18%)
Tobins Q-Ratio = 0.59 (Enterprise Value 20.30b / Total Assets 34.17b)
Interest Expense / Debt = 0.50% (Interest Expense 64.6m / Debt 12.88b)
Taxrate = 21.0% (US default 21%)
NOPAT = -717.5m (EBIT -908.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.29 (Total Current Assets 843.1m / Total Current Liabilities 2.95b)
Debt / Equity = 0.82 (Debt 12.88b / totalStockholderEquity, last quarter 15.73b)
Debt / EBITDA = 30.72 (Net Debt 12.46b / EBITDA 405.6m)
Debt / FCF = 8.88 (Net Debt 12.46b / FCF TTM 1.40b)
Total Stockholder Equity = 16.25b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.85% (Net Income -1.02b / Total Assets 34.17b)
RoE = -6.29% (Net Income TTM -1.02b / Total Stockholder Equity 16.25b)
RoCE = -3.31% (EBIT -908.2m / Capital Employed (Equity 16.25b + L.T.Debt 11.17b))
 RoIC = -2.46% (negative operating profit) (NOPAT -717.5m / Invested Capital 29.21b)
 WACC = 3.50% (E(7.84b)/V(20.72b) * Re(8.61%) + D(12.88b)/V(20.72b) * Rd(0.50%) * (1-Tc(0.21)))
Discount Rate = 8.61% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -6.82 | Cagr: 4.37%
[DCF] Terminal Value 86.23% ; FCFF base≈1.39b ; Y1≈1.38b ; Y5≈1.43b
[DCF] Fair Price = 172.3 (EV 42.49b - Net Debt 12.46b = Equity 30.03b / Shares 174.3m; r=6.0% [WACC]; 5y FCF grow -1.86% → 3.0% )
EPS Correlation: -33.54 | EPS CAGR: 30.23% | SUE: 0.83 | # QB: 0
Revenue Correlation: 59.30 | Revenue CAGR: 1.23% | SUE: -1.40 | # QB: -3
EPS current Quarter (2026-06-30): EPS=0.12 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=-0.05 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=1.45 | Chg30d=+504.84% | Revisions=-20% | GrowthEPS=+117.2% | GrowthRev=-13.8%
EPS next Year (2027-12-31): EPS=-0.88 | Chg30d=N/A | Revisions=N/A | GrowthEPS=-134.7% | GrowthRev=+3.1%
[Analyst] Revisions Ratio: -20%