Alexandria Real Estate Equities (ARE) stock
Real Estate · Office REITs
Alexandria Real Estate Equities (ARE) is an Office REITs company in the Real Estate sector, headquartered in Pasadena, California. As of October 23, 2026, ARE closed at $43.02, a market capitalization of $7.40 billion, the 500th largest company in the S&P 500. Over the last twelve months it generated $2.84 billion in revenue (-12% year over year) and $1.28 billion in free cash flow.
- 1-year total return: -40.7% (dividends reinvested)
- 5-year return: -23.6% a year
- 52-week range: $39.41 – $78.00
- Gross margin 68.2%, operating margin 17.3%
- Dividend yield: 6.69%
- FI Handbook report card: C- across 9 metrics
- 30th largest of 30 Real Estate stocks in the S&P 500
ARE price chart
1Y price change: -44.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ARE | -15.8% | -8.2% | -40.7% | -18.8% | -23.6% | -5.2% | +6.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1997.
ARE key statistics
- Market cap
- $7.4B
- #500 in S&P 500
- P/E (TTM)
- —
- Forward P/E
- -53.1x
- EPS (TTM)
- $-6.05
- Revenue (TTM)
- $2.8B
- -12%
- Free cash flow
- $1.3B
- Gross margin
- 68.2%
- Operating margin
- 17.3%
- Return on equity
- -4.1%
- Dividend yield
- 6.69%
- 52-week range
- $39.41 – $78.00
- Beta
- 1.18
- Price / sales
- 2.6x
- EV / EBITDA
- 13.4x
- Debt / equity
- 0.69x
- Employees
- 514
ARE report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-11.9%F
- Gross margin68.2%A
- Operating margin17.3%C
- FCF margin45.0%A
- Return on equity-4.1%F
- Net debt / EBITDA7.1xF
- Forward P/E——
- PEG ratio3.2xF
- Shareholder yield9.5%A
- Share count change / yr6.1%F
Alexandria Real Estate Equities financials
Revenue went from $921.7M in fiscal 2016 to $3.0B in fiscal 2025, growing 14.1% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $921.7M | $1.1B | $1.3B | $1.5B | $1.9B | $2.1B | $2.6B | $2.9B | $3.1B | $3.0B |
| Net income | -$65.9M | $169.1M | $379.3M | $363.2M | $771.0M | $571.2M | $521.7M | $103.6M | $322.9M | -$1.4B |
| EPS (diluted) | $-1.99 | $1.58 | $3.52 | $3.12 | $6.01 | $3.82 | $3.18 | $0.54 | $1.80 | $-8.44 |
| Buybacks | — | — | — | — | — | — | $0 | $0 | $50.1M | $208.2M |
| Dividends paid | $262.8M | $321.8M | $385.8M | $451.2M | $533.0M | $656.0M | $757.7M | $847.5M | $898.6M | $911.5M |
| Diluted shares | 76.1M | 92.1M | 103.3M | 112.5M | 126.5M | 147.5M | 161.7M | 170.9M | 172.1M | 170.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ARE?
A reverse DCF asks what growth the current price requires. With an enterprise value of $20.1B and $1.3B of trailing free cash flow, Alexandria Real Estate Equities needs to grow free cash flow about 4.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 30.0x vs. median 43.4x (10th–90th percentile 31.5x–196.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ARE dividend
- Dividend yield
- 6.69%
- Annual dividend
- $2.88
- Years of increases
- —
- 5-yr dividend growth
- 2.0%
- per year
- Payout ratio
- 689%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ARE analyst price targets
14 analysts' average 12-month target is $51.93 (+21% vs. $43.02). Targets range from $40.00 to $60.00.
ARE earnings
Next report: October 26, 2026. Alexandria Real Estate Equities has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $643.2M (-13% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 3, 2026 | $0.12 | $0.15 | +26.2% |
| Apr 27, 2026 | $0.14 | $2.10 | +1360.0% |
| Jan 26, 2026 | $0.30 | $-6.35 | -2200.8% |
| Oct 27, 2025 | $0.39 | $0.50 | +28.2% |
| Jul 21, 2025 | $0.63 | $0.48 | -24.0% |
| Apr 28, 2025 | $0.60 | $0.51 | -15.5% |
| Jan 27, 2025 | $0.90 | $0.69 | -23.0% |
| Oct 21, 2024 | $0.92 | $0.87 | -5.7% |
Stocks like ARE
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 BXP BXP | +0.99% | -12% | $11.2B | 33.4x | Compare |
 WELL Welltower | -0.03% | +37% | $171.0B | 106.4x | Compare |
 PLD Prologis | -0.17% | +4% | $122.9B | 28.1x | Compare |
 EQIX Equinix | +0.25% | +17% | $94.2B | 61.5x | Compare |
 AMT American Tower Corporation (REI | +4.08% | +3% | $88.1B | 26.0x | Compare |
 SPG Simon Property | -0.19% | +24% | $80.3B | 14.9x | Compare |
 DLR Digital Realty Trust | +0.84% | +1% | $65.1B | 83.7x | Compare |
 PSA Public Storage | +0.25% | +5% | $57.9B | 29.6x | Compare |
ARE news
- Alexandria's Q3 Earnings Preview: Is ARE Stock a Portfolio Must-Have? · Oct 22, 2026
- Gear Up for Alexandria Real Estate Equities (ARE) Q3 Earnings: Wall Street Estimates for Key Metrics · Oct 21, 2026
- Earnings Preview: What To Expect From Alexandria Real Estate's Report · Oct 6, 2026
- Alexandria Real Estate Equities (ARE) Is Down 5.1% After Refinancing With New US$5 Billion Credit Facility · Oct 2, 2026
- Alexandria Real Estate Equities (ARE) Stock Looks Hard To Call On Cash Flow · Oct 2, 2026
ARE stock FAQ
What is ARE's market cap?
Alexandria Real Estate Equities's market capitalization is $7.40 billion as of October 23, 2026, ranking 500th in the S&P 500.
Does ARE pay a dividend?
Yes. Alexandria Real Estate Equities pays $2.88 per share a year, a 6.69% yield. Dividends grew 2.0% a year over the last five years.
How much has ARE stock returned?
Including reinvested dividends, ARE returned -40.7% over one year, -23.6% a year over five years, -5.2% a year over ten years through October 23, 2026.
Is ARE stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Alexandria Real Estate Equities must grow free cash flow about 5% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ARE price target?
14 analysts cover ARE with an average 12-month price target of $51.93, +21% from the current price.
When does ARE report earnings?
Alexandria Real Estate Equities is expected to report earnings on October 26, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Alexandria Real Estate Equities have?
Alexandria Real Estate Equities has about 514 full-time employees, or $5.5 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology