PR Newswire·Apr 27, 2026, 4:10 PM ET

Alexandria Real Estate Equities, Inc. Reports 1Q26 Net Income per Share - Diluted of $2.10; and 1Q26 FFO per Share - Diluted, as Adjusted, of $1.73

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Alexandria Real Estate Equities reported diluted net income per share of $2.10 for Q1 2026, a significant turnaround from a $0.07 loss in Q1 2025.
Adjusted diluted funds from operations (FFO) per share stood at $1.73 for Q1 2026, down from $2.30 in the prior year period.
Operating occupancy was 87.7% as of March 31, 2026, impacted by 657,492 RSF of key lease expirations that became vacant in the quarter.
The company executed $1.33 billion in debt principal tender offers in February 2026, recognizing a $366.4 million gain on early extinguishment of debt.
2026 guidance for diluted FFO per share was maintained at a midpoint of $6.40, with the range narrowed to $6.30–$6.50.
Leasing volume totaled 647,356 RSF in Q1 2026, with rental rate changes for renewals showing a 15.0% decline due to specific tenant wind-downs.
Capital recycling strategy targets $2.9 billion in dispositions and sales of partial interests for 2026, with $2.18 billion identified as in process.
General and administrative expenses decreased 18% in Q1 2026 compared to the 2024 quarterly average, totaling $34.7 million.
The company announced a consistent dividend of $0.72 per share for Q1 2026, maintaining a payout ratio of 42%.
Development and redevelopment pipeline projects are expected to deliver $92 million in incremental annual net operating income by Q4 2026.
Weighted-average remaining debt term is 10.0 years, the longest among S&P 500 REITs, with only 9% of total debt maturing through 2028.
Net debt to adjusted EBITDA was 6.8x for the 1Q26 annualized period, with a target range of 5.6x to 6.2x for 4Q26.
Tenant collections for Q1 2026 rents reached 99.9% as of April 27, 2026.
The company is evaluating strategic alternatives for 1.6 million RSF of projects to reduce future construction funding requirements.