Alexandria Real Estate Equities, Inc. Files Q1 2024 10-Q Report

Ticker: ARE · Form: 10-Q · Filed: Apr 22, 2024 · CIK: 1035443

Alexandria Real Estate Equities, Inc. 10-Q Filing Summary
FieldDetail
CompanyAlexandria Real Estate Equities, Inc. (ARE)
Form Type10-Q
Filed DateApr 22, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, Alexandria Real Estate Equities, Q1 2024, Financial Report, REIT

TL;DR

<b>Alexandria Real Estate Equities, Inc. filed its Q1 2024 10-Q, detailing financial performance and operational data.</b>

AI Summary

ALEXANDRIA REAL ESTATE EQUITIES, INC. (ARE) filed a Quarterly Report (10-Q) with the SEC on April 22, 2024. Filed a 10-Q report for the period ending March 31, 2024. Report includes financial data for Q1 2024 and comparative periods. Company is Alexandria Real Estate Equities, Inc., SIC code 6798. Incorporated in Maryland with fiscal year end December 31. Business and mailing address at 26 North Euclid Avenue, Pasadena, CA.

Why It Matters

For investors and stakeholders tracking ALEXANDRIA REAL ESTATE EQUITIES, INC., this filing contains several important signals. This filing provides investors with the latest quarterly financial health and operational status of Alexandria Real Estate Equities, Inc. Key financial metrics and disclosures in the 10-Q are crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — ALEXANDRIA REAL ESTATE EQUITIES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant events, suggesting a routine disclosure.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to assess Alexandria Real Estate Equities, Inc.'s current performance and outlook.

Key Numbers

  • 2024-03-31 — Period End Date (Conformed period of report)
  • 2024-04-22 — Filing Date (Filed as of date)
  • 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

  • ALEXANDRIA REAL ESTATE EQUITIES, INC. (company) — Filer name
  • 2024-03-31 (date) — Conformed period of report
  • 2024-04-22 (date) — Filed as of date
  • 6798 (industry_code) — Standard Industrial Classification
  • MD (state) — State of incorporation
  • 26 NORTH EUCLID AVENUE (address) — Business address street 1
  • PASADENA (city) — Business address city
  • CA (state) — Business address state

FAQ

When did ALEXANDRIA REAL ESTATE EQUITIES, INC. file this 10-Q?

ALEXANDRIA REAL ESTATE EQUITIES, INC. filed this Quarterly Report (10-Q) with the SEC on April 22, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by ALEXANDRIA REAL ESTATE EQUITIES, INC. (ARE).

Where can I read the original 10-Q filing from ALEXANDRIA REAL ESTATE EQUITIES, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ALEXANDRIA REAL ESTATE EQUITIES, INC..

What are the key takeaways from ALEXANDRIA REAL ESTATE EQUITIES, INC.'s 10-Q?

ALEXANDRIA REAL ESTATE EQUITIES, INC. filed this 10-Q on April 22, 2024. Key takeaways: Filed a 10-Q report for the period ending March 31, 2024.. Report includes financial data for Q1 2024 and comparative periods.. Company is Alexandria Real Estate Equities, Inc., SIC code 6798..

Is ALEXANDRIA REAL ESTATE EQUITIES, INC. a risky investment based on this filing?

Based on this 10-Q, ALEXANDRIA REAL ESTATE EQUITIES, INC. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant events, suggesting a routine disclosure.

What should investors do after reading ALEXANDRIA REAL ESTATE EQUITIES, INC.'s 10-Q?

Review the detailed financial statements and segment information within the 10-Q to assess Alexandria Real Estate Equities, Inc.'s current performance and outlook. The overall sentiment from this filing is neutral.

How does ALEXANDRIA REAL ESTATE EQUITIES, INC. compare to its industry peers?

Alexandria Real Estate Equities, Inc. operates as a Real Estate Investment Trust (REIT) within the real estate sector.

Are there regulatory concerns for ALEXANDRIA REAL ESTATE EQUITIES, INC.?

The filing is a standard 10-Q, a quarterly report required by the SEC for publicly traded companies.

Industry Context

Alexandria Real Estate Equities, Inc. operates as a Real Estate Investment Trust (REIT) within the real estate sector.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the SEC for publicly traded companies.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and other key performance indicators.
  2. Examine any disclosures related to debt, equity, and cash flow.
  3. Review the business description and risk factors for any significant operational or market changes.

Year-Over-Year Comparison

This is the initial filing for the Q1 2024 period, with prior period data available for comparison within the report.

Filing Stats: 4,519 words · 18 min read · ~15 pages · Grade level 18.4 · Accepted 2024-04-22 16:06:38

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value per share ARE New York Stock

Filing Documents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Consolidated Financial Statements for the Three Months Ended March 31, 2024 and 2023: Consolidated Statements of Operations 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Stockholders' Equity and Noncontrolling Interests 4 Consolidated Statements of Cash Flows 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 40 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 106 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 107

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1A.

RISK FACTORS

RISK FACTORS 108 Item 5 . OTHER INFORMATION 109 Item 6. EXHIBITS 110

SIGNATURES

SIGNATURES 111 i GLOSSARY The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below: ASU Accounting Standards Update ATM At the Market CIP Construction in Progress EPS Earnings per Share FASB Financial Accounting Standards Board FDIC Federal Deposit Insurance Corporation FFO Funds From Operations GAAP U.S. Generally Accepted Accounting Principles IRS Internal Revenue Service JV Joint Venture Nareit National Association of Real Estate Investment Trusts NAV Net Asset Value NYSE New York Stock Exchange REIT Real Estate Investment Trust RSF Rentable Square Feet/Foot SEC Securities and Exchange Commission SF Square Feet/Foot SoDo South of Downtown submarket of Seattle SOFR Secured Overnight Financing Rate SoMa South of Market submarket of the San Francisco Bay Area U.S. United States VIE Variable Interest Entity ii

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Alexandria Real Estate Equities, Inc. Consolidated Balance Sheets (In thousands) March 31, 2024 December 31, 2023 (Unaudited) Assets Investments in real estate $ 32,323,138 $ 31,633,511 Investments in unconsolidated real estate joint ventures 40,636 37,780 Cash and cash equivalents 722,176 618,190 Restricted cash 9,519 42,581 Tenant receivables 7,469 8,211 Deferred rent 1,138,936 1,050,319 Deferred leasing costs 520,616 509,398 Investments 1,511,588 1,449,518 Other assets 1,424,968 1,421,894 Total assets $ 37,699,046 $ 36,771,402 Liabilities, Noncontrolling Interests, and Equity Secured notes payable $ 130,050 $ 119,662 Unsecured senior notes payable 12,087,113 11,096,028 Unsecured senior line of credit and commercial paper — 99,952 Accounts payable, accrued expenses, and other liabilities 2,503,831 2,610,943 Dividends payable 222,134 221,824 Total liabilities 14,943,128 14,148,409 Commitments and contingencies Redeemable noncontrolling interests 16,620 16,480 Alexandria Real Estate Equities, Inc.'s stockholders' equity: Common stock 1,720 1,719 Additional paid-in capital 18,434,690 18,485,352 Accumulated other comprehensive loss ( 23,815 ) ( 15,896 ) Alexandria Real Estate Equities, Inc.'s stockholders' equity 18,412,595 18,471,175 Noncontrolling interests 4,326,703 4,135,338 Total equity 22,739,298 22,606,513 Total liabilities, noncontrolling interests, and equity $ 37,699,046 $ 36,771,402 The accompanying notes are an integral part of these consolidated financial statements. 1 Alexandria Real Estate Equities, Inc. Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Revenues: Income from rentals $ 755,551 $ 687,949 Other income 13,557 12,846 Total revenues 769,108 700,795 Expenses: Rental operations 218,314 206,933 General and administrative 47,055 48,196 Int

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) 1. ORGANIZATION AND BASIS OF PRESENTATION Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500 life science REIT, is the pioneer of the life science real estate niche since its founding in 1994. Alexandria 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. Alexandria 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. As used in this quarterly report on Form 10-Q, references to the "Company," "Alexandria," "ARE," "we," "us," and "our" refer to Alexandria Real Estate Equities, Inc. and its consolidated subsidiaries. The accompanying unaudited consolidated financial statements include the accounts of Alexandria Real Estate Equities, Inc. and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated. We have prepared the accompanying interim consolidated financial statements in accordance with GAAP and in conformity with the rules and regulations of the SEC. In our opinion, these interim consolidated financial statements presented herein reflect all adjustments, of a normal recurring nature, that are necessary to fairly present the interim consolidated financial statements. The results of operations for the interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our annual report on Form 10-K for the year ended December 31, 2023. Any references to our total market capitalization, number or quality of buildings or tenants, quality of l

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