Alexandria Real Estate Equities, Inc.
AREAlexandria Real Estate Equities, Inc.'s three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: the price moved −34.3% in a year while annual EPS moved −568.9% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is topping out (1 weeks in) while the P/E sits at the 54th percentile of its own 4-year range. Underneath, the last four quarters read deteriorating — profit +900.0% year on year, and 303% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Alexandria Real Estate Equities, Inc. trades at $54.0, losing momentum at the top and 1 weeks into that stage. That is +3.7% against its own 200-day average. It sits at 28% of a 52-week range of $41 to $86. On relative strength it has been ahead of the S&P 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is losing momentum at the top — week 1 of stage 3. At $54.0 it trades +3.7% versus its 200-day average and sits at 28% of its 52-week range ($41–$86).
Against the market, two honest reads. Cumulative: over the last 10.1 years the stock moved −47% while the S&P 500 moved +248% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 54th percentile of its own range.
Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.
Alexandria Real Estate Equities, Inc. trades at 76.6× P/E, mid-range by its own standards (54th percentile). Its long-run median P/E is 72.2×, measured across 3.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 76.6× is mid-range by its own standards (54th percentile), against a long-run median of 72.2× measured over 3.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −568.9% against a −34.3% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the −24.7%/yr price move, ~−38.6%/yr came from earnings growth and ~+13.9 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Alexandria Real Estate Equities, Inc. reads as deteriorating on its fundamental arc. Deteriorating — revenue, profit and EPS growth are shrinking (revenue growth −5.8% latest against +14.6% at its 12-quarter best), ROCE holding at 1.1%. The read is built from 12 quarters across 4 curves, on full evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −2.9% | +5.4% | — | — |
| Stock price | −34.3% | −24.7% | −23.1% | −7.1% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
36.4/100 — rank 12 of 17 in REIT - Office · 76% evidence confidence
Alexandria Real Estate Equities, Inc. scores 36.4 out of 100 against the 17 companies it is compared with in REIT - Office, ranking 12. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 11.4 + 9.2 + 8.6 + 7.2 = 36.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if ROA rolls over or gross NPA rises while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Alexandria Real Estate Equities, Inc. reported $0.7 B of revenue in the Mar 26 quarter, −11.8% year on year. Over 4 years it has compounded at 9.5% a year. The last full year, FY25, came in at $3.0 B. The last four reported quarters add to $2.9 B.
Alexandria Real Estate Equities, Inc. reported $0.7 B of revenue in the Mar 26 quarter, −11.8% year on year. Over 4 years it has compounded at 9.5% a year. The last full year, FY25, came in at $3.0 B. The last four reported quarters add to $2.9 B.
FY25 revenue came in at $3.0 B (−2.9% on the year), capping 4 years at 9.5% compound. The latest quarter (Mar 26) printed $0.7 B, −11.8% year on year.
Pace check: the last four quarters averaged −5.8% growth against the decade's 9.5% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −5.8% over the last 4 quarters against −0.3%/yr over the last 8 — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 14.9% this quarter (−2.2 pp YoY).
Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Alexandria Real Estate Equities, Inc.'s operating margin is 14.9% in the Mar 26 quarter, −2.2 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −51.8% to 22.3%. The current quarter sits inside that band.
Alexandria Real Estate Equities, Inc.'s operating margin is 14.9% in the Mar 26 quarter, −2.2 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −51.8% to 22.3%. The current quarter sits inside that band.
The latest quarter's operating margin is 14.9%, −2.2 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged −51.8%–22.3%.
🚨 Why the margin moved: operating margin went −2.2 pp year on year while gross margin went −2.5 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit +900.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Alexandria Real Estate Equities, Inc. earned $0.4 B of net profit in the Mar 26 quarter, +900.0% year on year. The full FY25 year was a loss of $1.2 B. That is 59.7% of the quarter's revenue. The same quarter a year earlier earned $0.0 B. 5 of the last 12 reported quarters were loss-making.
Alexandria Real Estate Equities, Inc. earned $0.4 B of net profit in the Mar 26 quarter, +900.0% year on year. The full FY25 year was a loss of $1.2 B. That is 59.7% of the quarter's revenue. The same quarter a year earlier earned $0.0 B. 5 of the last 12 reported quarters were loss-making.
Mar 26 profit was $0.4 B, +900.0% year on year. On the full year, FY25 printed $−1.2 B (−339.2%).
Why profit moved: revenue contributed −11.8% and the margin −2.2 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +179.4% vs revenue −5.8%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra dollar of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 303% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 303% of Alexandria Real Estate Equities, Inc.'s reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $1.4 B of operating cash against $−1.2 B of profit. After $1.9 B of capital spending, $−0.5 B was left as free cash.
FY25: operating cash of $1.4 B against reported profit of $−1.2 B, leaving free cash of $−0.5 B after $1.9 B of capital spending. Across the last 3 fiscal years the conversion rate is 303% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.
Router verdict: the visible cash user is investment — the next section checks what the spending is buying.
→ So follow the cash to where it goes. Next: $8.0 B of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Alexandria Real Estate Equities, Inc. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $8.0 B over the last 3 years. Averaged over those years that is 88.0% of FY25 revenue a year.
Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.
On the investment side: capital spending of $8.0 B over the last 3 fiscal years.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROE is −4% and the ROIC − WACC spread is −4.3 pp.
Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.
Alexandria Real Estate Equities, Inc. earns a ROE of −6% in FY25. Return on invested capital clears the cost of that capital by −4.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −40.3% net margin on 0.09× asset turns.
FY25 ROE is −6%.
🚨 Why the return is what it is — the wiring (FY25): −40.3% net margin × 0.09× asset turns × 1.78× balance-sheet leverage ≈ −6.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 1.1% − 5.4% = a −4.3 pp spread. The 5.4% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.67.
Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.
Alexandria Real Estate Equities, Inc. paid $4.08 per share over the last four reported quarters, down 45.5% on a year ago. The most recent declaration was $0.72 for Mar 26. Against the current price of $54.0 that is a trailing yield of 7.56%, measured on dividends already paid rather than on a forecast.
Alexandria Real Estate Equities, Inc. paid $4.08 per share over the last four reported quarters, down 45.5% on a year ago. The most recent declaration was $0.72 for Mar 26. Against the current price of $54.0 that is a trailing yield of 7.56%, measured on dividends already paid rather than on a forecast.
Alexandria Real Estate Equities, Inc. paid $4.08 per share across the last four reported quarters, most recently $0.72 for Mar 26. That is down 45.5% against the same quarter a year earlier. Against the current price of $54.0 the trailing twelve months work out to 7.56% — trailing dividends measured against today's price, not a forward estimate.
→ A payout is cash leaving the business. Next: what the balance sheet looks like behind it.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Alexandria Real Estate Equities, Inc. carries total debt of $12.5 B against shareholder equity of $19.4 B as of Mar 26, a debt-to-equity of 0.65. On the annual view that ratio went from 0.46 in FY21 to 0.65 in FY25. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of $12.5 B against shareholder equity of $19.4 B — a debt-to-equity of 0.65. On the annual view, debt-to-equity went from 0.46 (FY21) to 0.65 (FY25). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: short interest is 5.1% of the float.
Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.
5.1% of Alexandria Real Estate Equities, Inc.'s tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 4.5 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.
The latest reading: 5.1% of the float is sold short, and at typical trading volumes it would take about 4.5 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.
Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Alexandria Real Estate Equities, Inc.: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Alexandria Real Estate Equities, Inc. this page | 76.6× | $9B | Deteriorating | |||
| BXP, Inc. | 35.2× | $12B | Turning around | |||
| Vornado Realty Trust | 10.8× | $8B | Improving | |||
| Cousins Properties Incorporated | — | $5B | Deteriorating | |||
| Kilroy Realty Corporation | 27.0× | $5B | Improving | |||
| COPT Defense Properties | 26.6× | $4B | Improving | |||
| SL Green Realty Corp. | — | $4B | No read | |||
| Highwoods Properties, Inc. | 40.5× | $4B | Deteriorating | |||
| Douglas Emmett, Inc. | — | $2B | Deteriorating | |||
| Empire State Realty OP, L.P. | 26.7× | $2B | Deteriorating | |||
| Easterly Government Properties, Inc. | 114.9× | $1B | Deteriorating | |||
| Piedmont Realty Trust, Inc. | — | $1B | No read | |||
| Postal Realty Trust, Inc. | 45.9× | $1B | Mixed | |||
| Hudson Pacific Properties, Inc. | — | $1B | No read | |||
| Brandywine Realty Trust | — | $1B | Deteriorating | |||
| Net Lease Office Properties | — | $0B | No read | |||
| Orion Properties Inc. | — | $0B | No read |
Frequently asked questions
What is Alexandria Real Estate Equities, Inc.'s stock price today?
Alexandria Real Estate Equities, Inc. trades at $54.0, −34.3% over the past year. The company is valued at $9.0 B. The stock sits at 28% of its 52-week range of $41–$86, +3.7% versus its 200-day average. On the tape, the price is topping out, 1 weeks in. — as of 29 July 2026.
What were Alexandria Real Estate Equities, Inc.'s latest quarterly results?
Alexandria Real Estate Equities, Inc. reported revenue of $0.7 B and net profit of $0.4 B for the Mar 26 quarter. Revenue fell 11.8% and profit rose 900.0% year on year. Earnings per share were $2.10. The operating margin was 14.9%, 2.2 pp lower than a year earlier. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s revenue?
Alexandria Real Estate Equities, Inc. reported revenue of $0.7 B in the Mar 26 quarter, −11.8% year on year. For the full FY25 fiscal year, revenue was $3.0 B (−2.9%). Over the last 4 years revenue compounded at 9.5% a year. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s profit?
Alexandria Real Estate Equities, Inc. earned $0.4 B of net profit in the Mar 26 quarter, +900.0% year on year. Full-year FY25 profit was $−1.2 B. The operating margin ran 14.9% in the latest quarter. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s market cap?
Alexandria Real Estate Equities, Inc.'s market capitalisation is $9.0 B at a stock price of $54.0. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s P/E ratio?
Alexandria Real Estate Equities, Inc. trades at a P/E of 76.6×, at the 54th percentile of its own 4-year range, against a long-run median of 72.2×. This is a comparison with the stock's own history, not a value call — as of 29 July 2026.
Does Alexandria Real Estate Equities, Inc. pay a dividend?
Yes — Alexandria Real Estate Equities, Inc. declared $0.72 per share for Mar 26, and $4.08 per share across the last four reported quarters. The latest quarter is down 45.5% on the same quarter a year earlier. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s dividend per share?
Alexandria Real Estate Equities, Inc.'s most recently declared dividend is $0.72 per share for Mar 26, giving $4.08 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s dividend yield?
Alexandria Real Estate Equities, Inc.'s trailing dividend yield is 7.56%: $4.08 declared per share across the last four reported quarters, against a share price of $54.0. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc. overvalued?
On its own history, Alexandria Real Estate Equities, Inc. looks mid-range against its own history: its P/E of 76.6× sits at the 54th percentile of its 4-year range (long-run median 72.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc. growing?
Not right now — Alexandria Real Estate Equities, Inc.'s latest numbers are shrinking: latest-quarter revenue −11.8% year on year, profit +900.0%, and the margin −2.2 pp at 14.9%. The earnings engine currently reads: deteriorating — as of 29 July 2026.
How is Alexandria Real Estate Equities, Inc. performing?
Alexandria Real Estate Equities, Inc. is topping out, 1 weeks in. Its latest quarter's revenue fell 11.8% and profit rose 900.0% year on year. Against the S&P 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 29 July 2026.
What stage is Alexandria Real Estate Equities, Inc. in?
Deteriorating — revenue, profit and EPS growth are shrinking (revenue growth −5.8% latest against +14.6% at its 12-quarter best), ROCE holding at 1.1%. The read comes from the last 12 quarters of growth (revenue growth −5.8% latest, profit growth −368.8% latest, eps growth −925.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc. in an uptrend?
It is stalling — the price is topping out (week 1 of stage 3), trading +3.7% versus its 200-day average and at 28% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc. beating the market?
On recent form, yes — Alexandria Real Estate Equities, Inc. has been ahead of the S&P 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.1 years the stock moved −47% against the S&P 500's +248% — behind the index over the full window. — as of 29 July 2026.
Will Alexandria Real Estate Equities, Inc.'s stock price go up?
This page publishes no price forecast for Alexandria Real Estate Equities, Inc. What it measures instead: the stock price is $54.0, the price is topping out 1 weeks in. Its P/E of 76.6× sits at the 54th percentile of its own 4-year range. — as of 29 July 2026.
Is the market betting against Alexandria Real Estate Equities, Inc.?
Somewhat — short interest is 5.1% of Alexandria Real Estate Equities, Inc.'s tradable float, about 4.5 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 29 July 2026.
Does Alexandria Real Estate Equities, Inc. have too much debt?
It is moderate — Alexandria Real Estate Equities, Inc.'s debt-to-equity is 0.67. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. Read the returns on this page with that leverage in mind — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s capex?
Alexandria Real Estate Equities, Inc. spent $8.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was $1.9 B. — as of 29 July 2026.
What is Alexandria Real Estate Equities, Inc.'s cash flow?
Alexandria Real Estate Equities, Inc. generated $1.4 B of operating cash flow in FY25 and $−0.5 B of free cash flow after $1.9 B of capital spending. Reported profit that year was $−1.2 B, so operating cash ran ahead of profit. — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc.'s profit real cash?
Yes — over the last 3 fiscal years, 303% of Alexandria Real Estate Equities, Inc.'s reported profit arrived as operating cash. In FY25, operating cash was $1.4 B against reported profit of $−1.2 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 29 July 2026.
Where is Alexandria Real Estate Equities, Inc. in its business cycle?
Alexandria Real Estate Equities, Inc.'s FY25 operating margin was −51.8%, against a 5-year band of −51.8%–22.3%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 14.9%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 29 July 2026.
What could break the Alexandria Real Estate Equities, Inc. story?
The sharpest disagreement: the price moved −34.3% in a year while annual EPS moved −568.9% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 29 July 2026.
Is Alexandria Real Estate Equities, Inc. a stock worth studying right now?
This is not investment advice. The machine read: Alexandria Real Estate Equities, Inc.'s three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 29 July 2026.