A
lexandria Real Estate Equities, Inc. (NYSE: ARE) announced its financial and operating results for the second quarter ended June 30, 2025.
Key highlights include:
* Total revenues of $762.0 million in 2Q25, compared to $766.7 million in 2Q24.
* Net loss attributable to Alexandria's common stockholders - diluted of $(109.6) million in 2Q25, compared to net income of $42.9 million in 2Q24.
* Funds from operations (FFO) attributable to Alexandria's common stockholders - diluted, as adjusted of $396.4 million in 2Q25, compared to $405.5 million in 2Q24.
Operating results:
* Occupancy of operating properties in North America was 90.8% as of June 30, 2025.
* Percentage of annual rental revenue in effect from Megacampus platform was 75%.
* Operating margin was 71%.
Leasing volume and rental rate increases:
* Leasing volume of 769,815 RSF during 2Q25.
* Rental rate increases on lease renewals and re-leasing of space of 5.5% and 6.1% (cash basis) for 2Q25.
Dividend strategy:
* Common stock dividend declared for 2Q25 of $1.32 per share aggregating $5.26 per common share for the twelve months ended June 30, 2025.
Balance sheet:
* Net debt and preferred stock to Adjusted EBITDA of 5.9x as of June 30, 2025.
* Fixed-charge coverage ratio of 4.1x as of June 30, 2025.
Guidance:
* EPS guidance for 2025 is $0.40 to $0.60 per share.
* FFO per share guidance for 2025 is $8.11 to $8.31 per share.
The company will host a conference call on July 22, 2025, at 2:00 p.m. ET/11:00 a.m. PT to discuss its financial and operating results for the second quarter ended June 30, 2025.
