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lexandria Real Estate Equities, Inc. (NYSE: ARE) announced its financial and operating results for the fourth quarter and year ended December 31, 2024. Key highlights include:
Total revenues grew to $788.9 million in 4Q24, an increase of 4.2% from the same period in 2023, with full-year revenue reaching $3.116 billion.
Net loss attributable to common stockholders was $64.9 million in 4Q24, compared to a net loss of $91.9 million in the same quarter last year. Full-year net income increased to $309.6 million from $92.4 million in 2023.
Funds from operations (FFO) attributable to common stockholders reached $411.8 million in 4Q24, with full-year FFO totaling $1.629 billion.
The company's occupancy rate for operating properties in North America stood at 94.6% as of December 31, 2024. Its Megacampus platform accounted for 77% of annual rental revenue, while investment-grade or publicly traded large cap tenants represented 52%.
Operating margin and adjusted EBITDA margin were 70% and 72%, respectively. Approximately 97% of leases contained annual rent escalations.
The weighted-average remaining lease term was 9.3 years for the top 20 tenants and 7.5 years for all tenants as of December 31, 2024.
Alexandria Real Estate Equities maintained a strong balance sheet with significant liquidity and a top 10% credit rating ranking among all publicly traded U.S. REITs.
