7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2018-09-30 2017-03-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-09-30 2008-06-30 2008-03-31 2007-09-30 2007-06-30 
      
    		                                                         
      revenues:
    		                                                         
      income from rentals
    		735,849,000 737,279,000 743,175,000 775,744,000 755,162,000 755,551,000 742,637,000 707,531,000 704,339,000 687,949,000 656,853,000 640,959,000 612,554,000 546,527,000 508,371,000 478,695,000 461,335,000 543,412,000 435,856,000 437,605,000                                      
      other income
    		16,095,000 24,761,000 14,983,000 15,863,000 11,572,000 13,557,000 14,579,000 6,257,000 9,561,000 12,846,000 2,999,000 2,805,000 2,511,000 1,232,000 1,248,000 1,154,000 2,385,000 1,630,000 1,100,000 2,314,000 5,276,000 2,338,000 5,107,000 10,331,000 5,216,000 10,899,000 7,180,000 2,757,000 4,751,000 2,519,000 2,325,000 466,000 3,934,000 3,159,000 3,571,000 2,993,000 3,785,000 2,640,000 9,381,000 2,629,000 1,567,000 2,475,000 926,000 777,000 1,634,000 1,586,000 922,000 1,071,000 1,010,000 1,162,000 8,910,000 754,000 2,648,000 2,892,000 3,250,000 3,734,000 3,410,000 
      total revenues
    		751,944,000 762,040,000 758,158,000 791,607,000 766,734,000 769,108,000 757,216,000 713,788,000 713,900,000 700,795,000 659,852,000 643,764,000 615,065,000 547,759,000 509,619,000 479,849,000 463,720,000 545,042,000 436,956,000 439,919,000 341,823,000 270,877,000 230,379,000 226,076,000 216,089,000 223,955,000 218,610,000 204,156,000 196,753,000 188,674,000 185,615,000 176,402,000 176,186,000 167,906,000 158,630,000 150,380,000 154,170,000 145,455,000 154,105,000 144,966,000 147,680,000 143,427,000 143,976,000 140,309,000 132,177,000 121,629,000 117,010,000 116,487,000 114,369,000 114,605,000 121,432,000       
      expenses:
    		                                                         
      rental operations
    		239,234,000 224,433,000 226,395,000 233,265,000 217,254,000 218,314,000 222,726,000 217,687,000 211,834,000 206,933,000 201,189,000 196,284,000 181,328,000 165,995,000 143,955,000 137,888,000 136,767,000 140,443,000 123,911,000 129,103,000 99,759,000 77,087,000 72,002,000 67,325,000 65,837,000 68,913,000 68,846,000 62,250,000 61,223,000 56,881,000 57,423,000 52,353,000 52,507,000 49,750,000 47,742,000 45,224,000 46,639,000 44,614,000 44,506,000 43,410,000 45,083,000 42,608,000 40,679,000 41,081,000 36,571,000 33,704,000 30,352,000 31,651,000 29,064,000 30,783,000 29,059,000 32,684,000 29,749,000 27,588,000 28,329,000 25,522,000 22,838,000 
      general and administrative
    		29,224,000 29,128,000 30,675,000 43,945,000 44,629,000 47,055,000 59,289,000 45,987,000 45,882,000 48,196,000 49,958,000 43,397,000 40,931,000 37,931,000 37,880,000 33,996,000 32,690,000 36,913,000 31,775,000 31,963,000 22,660,000 19,229,000 15,854,000 15,384,000 15,188,000 15,102,000 15,143,000 14,989,000 14,387,000 13,861,000 12,609,000 13,836,000 13,224,000 12,734,000 11,666,000 11,648,000 12,643,000 12,485,000 12,324,000 10,361,000 10,611,000 10,297,000 10,766,000 9,500,000 8,599,000 8,044,000 8,266,000 9,481,000 8,463,000 9,610,000 8,803,000 9,418,000 8,588,000 8,452,000 8,787,000 8,343,000 7,921,000 
      interest
    		54,852,000 55,296,000 50,876,000 43,550,000 45,789,000 40,840,000 31,967,000 11,411,000 17,072,000 13,754,000 22,984,000 24,257,000 29,440,000 35,678,000 35,158,000 36,467,000 37,538,000 43,318,000 45,014,000 45,739,000 42,244,000 29,784,000 25,850,000 25,025,000 24,855,000 28,230,000 27,679,000 26,668,000 23,236,000 22,188,000 20,555,000 17,433,000 19,123,000 17,783,000 16,171,000 18,020,000 17,941,000 17,094,000 17,922,000 16,227,000 14,757,000 14,273,000 16,571,000 17,842,000 17,191,000 16,111,000 18,778,000 17,562,000 19,406,000 20,909,000 21,063,000 20,199,000 19,948,000 17,732,000 22,245,000 23,947,000 19,870,000 
      depreciation and amortization
    		340,230,000 346,123,000 342,062,000 293,998,000 290,720,000 287,554,000 285,246,000 269,370,000 273,555,000 265,302,000 254,929,000 242,078,000 240,659,000 210,842,000 190,052,000 180,913,000 177,750,000 176,831,000 168,027,000 175,496,000 119,600,000 97,183,000 77,133,000 70,169,000 70,866,000 72,245,000 67,953,000 62,171,000 58,920,000 57,973,000 58,388,000 57,314,000 50,421,000 47,376,000 49,102,000 46,065,000 48,072,000 47,176,000 52,316,000 43,405,000 41,337,000 39,652,000 40,363,000 36,707,000 34,453,000 32,009,000 30,342,000 29,735,000 29,031,000 28,031,000 29,525,000 31,446,000 27,447,000 27,002,000 25,673,000 24,080,000 22,654,000 
      impairment of real estate
    		323,870,000 129,606,000 32,154,000 5,741,000 30,763,000  271,890,000 20,649,000 168,575,000  38,783,000   42,620,000 4,926,000 5,129,000 25,177,000 7,680,000 13,218,000 2,003,000   8,114,000 156,143,000 28,980,000 8,740,000   14,510,000                             
      loss on early extinguishment of debt
    		107,000           3,317,000    67,253,000 7,898,000 52,770,000   1,122,000 670,000 3,230,000     189,000   525,000    1,432,000                       
      total expenses
    		987,517,000 784,586,000 682,162,000 620,499,000 629,155,000 593,763,000 871,118,000 565,104,000 716,918,000 534,185,000 567,843,000 509,333,000 492,358,000 493,066,000 411,971,000 461,646,000 417,820,000 457,955,000 381,945,000 384,304,000 285,385,000 223,953,000 202,183,000 334,046,000 205,726,000 193,230,000 179,621,000 166,267,000 172,276,000 202,578,000 149,500,000 140,936,000 135,275,000 127,643,000 126,113,000 120,957,000 129,570,000 121,369,000 127,068,000 113,403,000 111,788,000 106,830,000 108,379,000 105,130,000 96,814,000 89,868,000 87,738,000 88,429,000 85,964,000 89,333,000 88,450,000       
      equity in earnings (losses) of unconsolidated real estate joint ventures
    		201,000               3,537,000      361,000 273,000                                   
      investment income
    		28,161,000  -49,992,000 15,242,000  43,284,000     -32,305,000 -39,481,000 -240,319,000 67,084,000 304,263,000 1,014,000 255,137,000 3,348,000 184,657,000 -21,821,000 122,203,000                                     
      gain on sales of real estate
    		9,366,000  13,165,000 27,114,000  392,000 62,227,000  214,810,000  323,699,000 214,219,000  -435,000  2,779,000 396,500 1,586,000                                        
      net income
    		-197,845,000 -62,189,000 38,662,000 213,603,000 94,049,000 219,176,000 -42,658,000 68,254,000 133,705,000 121,693,000 383,443,000 309,382,000 -117,392,000 124,433,000 404,520,000 25,533,000 457,133,000 95,799,000 243,561,000 30,678,000 219,359,000 47,555,000 28,559,000 -108,116,000 9,966,000 42,977,000 39,699,000 38,430,000 25,008,000 -6,030,000 35,943,000 36,116,000 40,749,000 44,222,000 32,453,000 30,237,000 28,807,000 18,305,000 25,641,000 32,775,000 35,462,000 32,995,000 34,311,000 32,625,000 92,000,000 30,461,000  28,785,000 29,905,000 26,378,000 44,116,000 41,249,000 28,600,000 28,421,000 37,688,000 22,900,000 24,048,000 
      yoy
    		-310.36% -128.37% -190.63% 212.95% -29.66% 80.11% -111.12% -77.94% -213.90% -2.20% -5.21% 1111.69% -125.68% 29.89% 66.09% -16.77% 108.39% 101.45% 752.83% -128.38% 2101.07% 10.65% -28.06% -381.33% -60.15% -812.72% 10.45% 6.41% -38.63% -113.64% 10.75% 19.44% 41.46% 141.58% 26.57% -7.74% -18.77% -44.52% -25.27% 0.46% -61.45% 8.32%  13.34% 207.64% 15.48%  -30.22% 4.56% -7.19% 17.06% 80.13% 18.93%     
      qoq
    		218.14% -260.85% -81.90% 127.12% -57.09% -613.80% -162.50% -48.95% 9.87% -68.26% 23.94% -363.55% -194.34% -69.24% 1484.30% -94.41% 377.18% -60.67% 693.93% -86.01% 361.27% 66.51% -126.42% -1184.85% -76.81% 8.26% 3.30% 53.67% -514.73% -116.78% -0.48% -11.37% -7.85% 36.26% 7.33% 4.96% 57.37% -28.61% -21.77% -7.58% 7.48% -3.84% 5.17% -64.54% 202.03%   -3.75% 13.37% -40.21% 6.95% 44.23% 0.63% -24.59% 64.58% -4.77%  
      net income margin %
    		                                                         
      net income attributable to noncontrolling interests
    		-34,909,000 -44,813,000 -47,601,000 -45,656,000 -47,347,000 -48,631,000 -45,771,000 -43,985,000 -43,768,000 -43,831,000 -38,747,000 -37,168,000 -32,177,000 -21,286,000 -19,436,000 -17,412,000 -15,649,000 -14,743,000 -13,907,000 -11,913,000 -5,723,000 -5,844,000 -4,084,000 -3,500,000 -4,030,000 -972,000 -170,000 -263,000 -492,000 -1,362,000 -1,340,000 -1,307,000 1,195,000 1,110,000 960,000 982,000 1,012,000 828,000 851,000 711,000 1,142,000 966,000 938,000 929,000 944,000 920,000 930,000 935,000 924,000 886,000 4,362,000 875,000      
      net income attributable to alexandria real estate equities, inc.’s stockholders
    		-232,754,000 -107,002,000 -8,939,000 167,947,000 46,702,000 170,545,000 -88,429,000 24,269,000 89,937,000 77,862,000 344,696,000 272,214,000 -149,569,000 103,147,000 385,084,000 8,121,000 441,484,000 81,056,000 229,654,000 18,765,000 213,636,000 41,711,000 24,475,000 -111,616,000 5,936,000                                 
      net income attributable to unvested restricted stock awards
    		-2,183,000 -2,609,000 -2,660,000 -3,273,000 -3,785,000 -3,659,000 -3,498,000 -2,414,000 -2,677,000 -2,606,000 -3,257,000 -2,934,000 -2,081,000 -1,883,000 -4,521,000 -2,014,000 -4,864,000 -1,730,000 -3,054,000 -1,925,000 -3,395,000 -987,000 -921,000 -1,085,000 -801,000 -628,000 -623,000 -630,000 -483,000 -489,000 -506,000 -405,000 374,000 394,000 442,000 342,000 324,000 360,000 271,000 235,000 270,000 278,000 298,000 242,000 493,000 217,000 149,000 219,000 232,000 199,000 367,000 517,000      
      net income attributable to alexandria real estate equities, inc.’s common stockholders
    		-234,937,000 -109,611,000 -11,599,000 164,674,000 42,917,000 166,886,000 -91,927,000 21,855,000 87,260,000 75,256,000 341,439,000 269,280,000 -151,650,000 101,264,000 380,563,000 6,107,000 436,620,000 79,326,000 226,600,000 16,840,000 208,940,000 25,661,000 5,452,000 -127,648,000 -3,818,000           22,442,000 21,000,000 10,646,000 17,616,000 18,368,000 26,960,000 24,662,000 25,986,000 24,365,000 83,474,000 22,235,000 -20,393,000 20,542,000 21,660,000 18,203,000 32,298,000 32,768,000      
      net income per share
    		                     0.29 0.07                                   
      basic
    		-1.38 -0.64 -0.07 0.96 0.25 0.97 -0.54 0.13 0.51 0.44 2.11 1.67 -0.96 0.67 2.61 0.04 3.41 0.64 1.82 0.14 2.01                                     
      diluted
    		-1.38 -0.64 -0.07 0.96 0.25 0.97 -0.54 0.13 0.51 0.44 2.11 1.67 -0.96 0.67 2.61 0.04 3.4 0.63 1.82 0.14 1.99                                     
      equity in (losses) earnings of unconsolidated real estate joint ventures
    		 -9,021,000 -507,000                 -3,116,000    -146,000 -397,000                                 
      investment loss
    		 -30,622,000   -43,660,000  -51,012,750 -80,672,000 -78,268,000 -45,111,000                                                
      equity in earnings of unconsolidated real estate joint ventures
    		   139,000 130,000 155,000 363,000 242,000 181,000 194,000 40,000 213,000 220,000 3,091,000 2,609,000  3,593,000 3,778,000 3,893,000  40,718,000                                     
      dividends on preferred stock
    		                    -1,301,000 -3,784,000 -5,007,000 -5,474,000 -5,907,000 -6,246,000 -6,247,000 -6,246,000 -6,247,000 -6,284,000 -6,471,000 -6,472,000 6,471,000 6,471,000 6,472,000 6,471,000 6,471,000 6,471,000 6,903,000 7,483,000 7,090,000 7,089,000 7,089,000 7,089,000 7,089,000 7,089,000 7,090,000 7,089,000 7,089,000 7,090,000 7,089,000 7,089,000 7,090,000 7,118,000 2,928,000 2,714,000 2,714,000 
      preferred stock redemption charge
    		                     -11,279,000 -13,095,000 -9,473,000 -3,046,000               5,978,000                  
      rental
    		                    255,496,000 207,193,000 166,591,000 161,638,000 158,276,000 158,100,000 155,311,000 151,805,000 143,608,000 140,873,000 137,718,000 134,992,000 130,570,000 124,943,000 116,302,000 111,776,000 114,205,000 108,367,000 110,683,000 107,785,000 110,053,000 106,160,000 109,820,000 106,624,000 99,901,000 90,395,000 89,512,000 88,858,000 88,129,000 87,436,000 87,825,000 104,941,000 85,829,000 83,176,000 82,156,000 78,636,000 73,369,000 
      tenant recoveries
    		                    81,051,000 61,346,000 58,681,000 54,107,000 52,597,000 54,956,000 56,119,000 49,594,000 48,394,000 45,282,000 45,572,000 40,944,000 41,682,000 39,804,000 38,757,000 35,611,000 36,180,000 34,448,000 34,041,000 34,552,000 36,060,000 34,792,000 33,230,000 32,908,000 30,642,000 29,648,000 26,576,000 26,558,000 25,230,000 26,007,000 24,697,000 27,062,000 26,803,000 23,986,000 24,553,000 21,762,000 19,123,000 
      gain on sales of real estate – rental properties
    		                     270,000                                    
      gain on sales of real estate – land parcels
    		                      90,000                                   
      dividends declared per share of common stock
    		                    0.93 0.83 0.8 0.8 0.8 0.57 0.77 0.77 0.74 0.535 0.72                           
      net income per share
    		                     0.29 0.07                                   
      income from continuing operations
    		                      28,469,000 -108,116,000 9,966,000 42,977,000 39,699,000 38,430,000 25,051,000 -13,350,000 36,115,000 35,466,000 40,911,000 40,263,000 32,517,000 29,423,000 26,825,000 24,086,000 25,435,000 30,940,000 35,892,000 33,855,000 34,349,000 32,684,000 32,991,000 30,461,000  28,058,000 28,405,000 25,272,000 44,236,000 39,010,000 28,619,000 28,332,000 21,989,000 21,331,000 21,717,000 
      income from discontinued operations
    		                            -43,000 1,722,000 -180,000 -147,000 -162,000 -93,000 -64,000 814,000 1,982,000  206,000      -433,000   727,000 1,500,000 1,106,000  2,239,000  89,000 15,699,000 1,569,000 2,331,000 
      continuing operations
    		                      0.07 -1,720 -50 490 460 440 250 -260 390 0.39 0.46 0.52 0.35 0.35 0.3 0.26 0.29 0.3 0.45 0.41 0.44 0.44 1.71 0.45 -0.45 0.45 0.43 0.44 0.83 0.94 0.68 0.67 0.6 0.64 0.65 
      discontinued operations
    		                             30      0.01         -0.01   0.02 0.03 0.03  0.07   0.5 0.05 0.08 
      eps attributable to alexandria real estate equities, inc.’s common stockholders – basic and diluted:
    		                                                         
      eps – basic and diluted
    		                       -1,720 -50 490 460 440 250 -230 390                           
      equity in earnings of unconsolidated joint ventures
    		                         456,250 710,000 541,000 574,000                             
      net income attributable to alexandria’s common stockholders
    		                         35,131,000 32,659,000 31,291,000 17,786,000 -16,154,000 27,626,000 27,932,000 32,709,000 18,126,000 24,579,000                       
      eps attributable to alexandria’s common stockholders – basic and diluted:
    		                                                         
      gain on sales of land parcels
    		                             201,250 8,000                           
      gain on sale of land parcel
    		                               797,000     466,000   1,864,000 11,500 46,000                
      earnings per share attributable to alexandria’s common stockholders – basic and diluted:
    		                                                         
      earnings per share – basic and diluted
    		                               0.39 0.46 0.52 0.35 0.36 0.188 0.17 0.29                   
      income from discontinued operations:
    		                                                         
      income from discontinued operations before impairment of real estate
    		                                 -93,000 -64,000  3,583,000 4,018,000                    
      gains on sales of land parcels
    		                                 193,000                        
      earnings per share attributable to alexandria real estate equities, inc.’s common stockholders – basic and diluted:
    		                                                         
      income from continuing operations before loss on early extinguishment of debt
    		                                    19,211,500 24,086,000 27,037,000 31,563,000 35,892,000 36,597,000 35,597,000 35,179,000              
      revenues
    		                                                         
      expenses
    		                                                         
      earnings per share attributable to alexandria real estate equities, inc.’s common stockholders – basic
    		                                                         
      earnings per share – basic
    		                                       0.3 0.44 0.4 0.44 0.44 1.7 0.45 -0.45 0.47 0.46 0.47 0.83 1.01   1.1   
      earnings per share attributable to alexandria real estate equities, inc.’s common stockholders – diluted
    		                                                         
      earnings per share – diluted
    		                                       0.3 0.44 0.4 0.44 0.44 1.7 0.45 -0.45 0.47 0.46 0.47 0.82 1.01   1.09   
      income from discontinued operations before gain on sales of real estate
    		                                                         
      gain on early extinguishment of debt
    		                                                  11,254,000       
      non-cash impairment on investments
    		                                                    1,985 1,985 1,985,000   
      weighted-average shares of common stock outstanding
    		                                                         
      basic
    		                                                   32,478,671,000 31,694,711 31,615,359 31,546,591 29,258,184 29,045,354 
      diluted
    		                                                   32,498,107,000 31,959,890 31,887,477 31,801,945 29,507,316 29,362,514 
      minority interest
    		                                                    929,000 948,000 951,000 909,000 902,000 
      net income available to common stockholders
    		                                                    21,510,000 21,303,000 34,760,000 20,186,000 21,334,000 
      earnings per share - basic
    		                                                    0.68 0.67  0.69 0.73 
      earnings per share - diluted
    		                                                    0.67 0.67  0.68 0.73 
      operating activities
    		                                                         
      adjustments to reconcile net income to net cash from operating activities:
    		                                                         
      amortization of loan fees and costs
    		                                                    5,228 3,489 1,775 4,419 2,782 
      amortization of debt premiums/discount
    		                                                         
      amortization of above and below market leases
    		                                                         
      deferred rent
    		                                                         
      stock compensation expense
    		                                                    10,114 6,591 3,536 8,188 5,414 
      equity in loss related to investments
    		                                                    106 79 77 161 43 
      gain on sales of investments
    		                                                         
      gain/loss on properties “held for sale” and sales of property
    		                                                         
      changes in operating assets and liabilities:
    		                                                         
      tenant security deposits and other restricted cash
    		                                                         
      tenant receivables
    		                                                     311    
      other assets
    		                                                         
      accounts payable, accrued expenses and tenant security deposits
    		                                                    45,374 12,654  46,148 17,608 
      net cash from operating activities
    		                                                    168,415 81,426 25,218 138,547 81,393 
      investing activities
    		                                                         
      additions to properties
    		                                                         
      proceeds from sales of property
    		                                                    79,113 79,113 68,047   
      additions to investments
    		                                                         
      proceeds from investments
    		                                                    11,194 8,221 3,794 15,606 10,696 
      net cash from investing activities
    		                                                         
      financing activities
    		                                                         
      proceeds from secured notes payable
    		                                                    6,719 3,412  202,700 2,700 
      principal reductions of secured notes payable
    		                                                         
      principal borrowings from unsecured line of credit
    		                                                    656,000 469,000 320,000   
      repayments of borrowings from unsecured line of credit
    		                                                         
      proceeds from unsecured convertible notes
    		                                                       450,800 450,800 
      redemption of series b preferred stock
    		                                                         
      proceeds from issuance of common stock
    		                                                       186,981  
      proceeds from issuance of series d convertible preferred stock
    		                                                    242,186 242,186 213,086   
      proceeds from exercise of stock options
    		                                                    2,498 1,960 411 1,937 1,620 
      dividends paid on common stock
    		                                                         
      dividends paid on preferred stock
    		                                                         
      distributions to minority interest
    		                                                         
      contributions by minority interest
    		                                                    1,107 649 649 2,285 952 
      redemption of minority interest
    		                                                         
      net cash from financing activities
    		                                                    169,378 91,837 22,312 522,826 132,087 
      net increase in cash and cash equivalents
    		                                                    7,361   7,832 4,069 
      cash and cash equivalents at beginning of period
    		                                                    8,030 8,030 8,030 2,948 2,948 
      cash and cash equivalents at end of period
    		                                                    15,391 7,072 7,654 10,780 7,017 
      amortization of premiums/discount on secured notes payable
    		                                                         
      gain on sales of properties
    		                                                         
      purchase of rental properties
    		                                                         
      proceeds from sale of rental properties
    		                                                       60,776 20,724 
      additions to rental properties
    		                                                         
      additions to properties undergoing development and development land
    		                                                         
      principal borrowings from unsecured line of credit and term loan
    		                                                       814,000 363,000 
      repayments of unsecured line of credit
    		                                                         
      gain on sale of investments
    		                                                         
      gain on sale of properties
    		                                                         
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.