Alexandria Real Estate Equities, Inc. (ARE) is a life science REIT. Valued at $20.48 billion by market cap, the REIT is the preeminent and longest-tenured owner, operator, and developer of collaborative life science mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City. It has a total market capitalization of $34.4 billion and an asset base in North America of 74.1 million SF as of March 31, 2024. The leading life sciences REIT is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Monday, July 22.
Ahead of the event, analysts expect ARE to report a profit of $2.35 per share on a diluted basis, up 4.9% from $2.24 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on one other occasion. During the previous quarter, the company reported strong rental rate growth for lease renewals and releasing space at 33% and 19% on a cash basis. Its outlook for rental rate growth for 2024 remains robust at 11% to 19% and 5% to 13% on a cash basis.
