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How Alexandria Real Estate Equities (ARE) makes money: Q2 2026 revenue breakdown
The quarter in brief
Revenue fell 13.0% y/y to $663M, net margin −11.0% vs −14.0%, net loss $72.8M (vs net loss $107M a year earlier).
Total revenues
$663M
down 13.0% y/y
Next report
not announced yet
How does Alexandria Real Estate Equities make money?
Alexandria Real Estate Equities brought in $663 million of revenue in Q2 2026, down 13.0% year over year. The largest source was Income from rentals: $643 million, or 97% of the total; other lines add the remaining 3%.
Revenue by source, Q2 2026
- Income from rentals$643M · 97% · −12.8%
- Other income$19.6M · 3% · −20.9%
Shares of $663M total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Income from rentals | $643 · −12.8% |
| Other income | $19.6 · −20.9% |
| Total revenues | $663 · −13.0% |
| Investment income (losses) | $133 · vs −$30.6 |
| Equity in earnings (losses) of unconsolidated joint ventures | $0.4 · vs −$9 |
| Net loss attributable to Alexandria stockholders | $72.8 · −32.0% |
| Depreciation and amortization | $304 · −12.1% |
| Impairment of real estate | $222 · +71.7% |
| Rental operations | $207 · −7.6% |
| Interest | $64.3 · +16.4% |
| General and administrative | $36.9 · +26.5% |
| Net income attributable to noncontrolling interests | $33.8 · −24.5% |
Verdict: revenue fell 13.0% y/y to $663M, net margin −11.0% vs −14.0%, net loss $72.8M (vs net loss $107M a year earlier).
Diluted net loss per share $0.43 vs $0.64 a year earlier; operating occupancy 86.9% (90.9% including executed leases with future occupancy); common stock dividend $0.72 per share.
Source and notation
Source: Alexandria Real Estate Equities earnings release, 8-K EX-99 of 08/03/2026 (SEC EDGAR). REIT layout: total revenues as reported; property expenses, depreciation, interest and other items lead to net income (a REIT pays little or no income tax). FFO is a non-GAAP measure: it appears only in the text, as defined by the company, never in the chart. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- The loss comes from a $222.5M impairment of real estate; investment income of $133.2M (vs a $30.6M loss a year earlier) partly offset it.
- Total revenues fell 13.0% as income from rentals declined to $643.2M from $737.3M; same property net operating income fell 10.6%, mainly on key lease expirations with expected downtime.
- General and administrative expenses were $36.9 million, up $7.7 million, or 26.5%, from 2Q25.
- Net income was $72.8M, a −11.0% margin vs −14.0% a year earlier.
- Diluted EPS was −$0.43 vs −$0.64 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Peter M. MogliaChief Executive Officer and Chief Investment Officer [1]
- Marc E. BindaChief Financial Officer and Treasurer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-08-03 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-08-03 · SEC EDGAR · 10/20/2026
Alexandria Real Estate Equities, Inc. is a real estate investment trust based in Pasadena, California that invests in office buildings and laboratories leased to tenants in the life science and technology industries. · Text: Wikipedia, CC BY-SA 4.0, abridged
Properties are generally located near universities to attract tenants. The company owns several major technology/biotechnology office campuses including the 740,972 square foot Alexandria Center for Life Science in Manhattan, and the 2,365,487 square foot Alexandria Center at Kendall Square and the 1,181,635 square foot Technology Square in the Boston area.
Heads-up
- a net loss in Q2 2026 ($72.8 · −32.0%)
- revenue fell 13% y/y in Q2 2026
Most likely because the loss comes from a $222.5M impairment of real estate; investment income of $133.2M (vs a $30.6M loss a year earlier) partly offset it; total revenues fell 13.0% as income from rentals declined to $643.2M from $737.3M. Based on the Q2 2026 report.
The company's report ↗Most likely because the drop came from Income from rentals −13% y/y, Other income −21% y/y; total revenues fell 13.0% as income from rentals declined to $643.2M from $737.3M; same property net operating income fell 10.6%. Based on the Q2 2026 report.
The company's report ↗Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $752M, EPS (GAAP) −$1.38
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
ARE earnings history: past report dates
| Aug 3, 2026 Mon | 4:07 pmafter market close | Jun 30, 2026 | $663M−13% y/y | −$0.43+33% y/y |
| Apr 27, 2026 Mon | 4:39 pmafter market close | Mar 31, 2026 | $671M−11% y/y | $2.10 |
| Jan 26, 2026 Mon | 4:08 pmafter market close | Dec 31, 2025 | ≈$754M | ≈−$6.35 |
| Oct 27, 2025 Mon | 4:08 pmafter market close | Sep 30, 2025 | $752M | −$1.38 |
| Jul 21, 2025 Mon | 4:15 pmafter market close | Jun 30, 2025 | $762M | −$0.64 |
| Apr 28, 2025 Mon | 4:08 pmafter market close | Mar 31, 2025 | $758M | −$0.07 |
| Jan 27, 2025 Mon | 4:08 pmafter market close | Dec 31, 2024 | — | ≈−$0.38+30% y/y |
| Oct 21, 2024 Mon | 4:08 pmafter market close | Sep 30, 2024 | — | $0.96+638% y/y |
| Jul 22, 2024 Mon | 4:16 pmafter market close | Jun 30, 2024 | — | $0.25−51% y/y |
| Apr 22, 2024 Mon | 4:08 pmafter market close | Mar 31, 2024 | — | $0.97+120% y/y |
| Jan 29, 2024 Mon | 4:08 pmafter market close | Dec 31, 2023 | — | ≈−$0.54 |
| Oct 23, 2023 Mon | 4:08 pmafter market close | Sep 30, 2023 | — | $0.13−94% y/y |
| Jul 13, 2023 Thu | 6:05 ambefore market open | Jun 30, 2023 | $714M+11% y/y | $0.51−69% y/y |
| Apr 24, 2023 Mon | 4:08 pmafter market close | Mar 31, 2023 | $701M+14% y/y | $0.44 |
| Jan 30, 2023 Mon | 4:21 pmafter market close | Dec 31, 2022 | ≈$670M+16% y/y | ≈$0.30−32% y/y |
| Oct 24, 2022 Mon | 4:09 pmafter market close | Sep 30, 2022 | $660M+20% y/y | $2.11+215% y/y |
| Jul 25, 2022 Mon | 4:08 pmafter market close | Jun 30, 2022 | $644M+26% y/y | $1.67−36% y/y |
| Apr 25, 2022 Mon | 4:08 pmafter market close | Mar 31, 2022 | $615M+28% y/y | −$0.96 |
| Jan 31, 2022 Mon | 4:09 pmafter market close | Dec 31, 2021 | ≈$577M+24% y/y | ≈$0.44−87% y/y |
| Oct 25, 2021 Mon | 4:16 pmafter market close | Sep 30, 2021 | $548M+0% y/y | $0.67+6% y/y |
| Jul 26, 2021 Mon | 4:09 pmafter market close | Jun 30, 2021 | $510M+17% y/y | $2.61+43% y/y |
| Apr 26, 2021 Mon | 4:09 pmafter market close | Mar 31, 2021 | $480M+9% y/y | $0.04−71% y/y |
| Feb 1, 2021 Mon | 4:11 pmafter market close | Dec 31, 2020 | $464M+14% y/y | $3.26+87% y/y |
| Oct 26, 2020 Mon | 4:08 pmafter market close | Sep 30, 2020 | $545M+40% y/y | $0.63 |
| Jul 27, 2020 Mon | 4:46 pmafter market close | Jun 30, 2020 | $437M+17% y/y | $1.82+168% y/y |
| Apr 27, 2020 Mon | 4:15 pmafter market close | Mar 31, 2020 | $440M+23% y/y | $0.14−87% y/y |
| Feb 3, 2020 Mon | 4:23 pmafter market close | Dec 31, 2019 | $408M+20% y/y | $1.74 |
| Oct 28, 2019 Mon | 4:10 pmafter market close | Sep 30, 2019 | $390M+14% y/y | −$0.44 |
| Jul 29, 2019 Mon | 4:15 pmafter market close | Jun 30, 2019 | $374M+15% y/y | $0.68+33% y/y |
| Apr 29, 2019 Mon | 4:11 pmafter market close | Mar 31, 2019 | $359M+12% y/y | $1.11−16% y/y |
| Feb 4, 2019 Mon | 4:12 pmafter market close | Dec 31, 2018 | $340M+14% y/y | −$0.30 |
| Oct 29, 2018 Mon | 4:08 pmafter market close | Sep 30, 2018 | $342M+20% y/y | $1.99+262% y/y |
| Jul 30, 2018 Mon | 4:09 pmafter market close | Jun 30, 2018 | $325M+19% y/y | $0.51+46% y/y |
| Apr 30, 2018 Mon | 4:17 pmafter market close | Mar 31, 2018 | $320M+18% y/y | $1.32+355% y/y |
| Jan 29, 2018 Mon | 4:14 pmafter market close | Dec 31, 2017 | $299M+20% y/y | $0.38 |
| Oct 30, 2017 Mon | 4:33 pmafter market close | Sep 30, 2017 | $285M+24% y/y | $0.55+686% y/y |
| Jul 31, 2017 Mon | 4:48 pmafter market close | Jun 30, 2017 | $273M+21% y/y | $0.35 |
| May 1, 2017 Mon | 4:02 pmafter market close | Mar 31, 2017 | $271M+25% y/y | $0.29 |
| Jan 30, 2017 Mon | 4:04 pmafter market close | Dec 31, 2016 | $249M+11% y/y | −$0.31 |
| Oct 31, 2016 Mon | 4:05 pmafter market close | Sep 30, 2016 | $230M+5% y/y | $0.07−85% y/y |
| Aug 1, 2016 Mon | 4:03 pmafter market close | Jun 30, 2016 | $226M+11% y/y | −$1.72 |
| May 2, 2016 Mon | 4:53 pmafter market close | Mar 31, 2016 | $216M+10% y/y | −$0.05 |
| Feb 1, 2016 Mon | 4:02 pmafter market close | Dec 31, 2015 | $224M+19% y/y | $0.49 |
| Nov 2, 2015 Mon | 4:07 pmafter market close | Sep 30, 2015 | $219M+18% y/y | $0.46+18% y/y |
| Jul 27, 2015 Mon | 4:08 pmafter market close | Jun 30, 2015 | $204M+16% y/y | $0.44+13% y/y |
| Apr 27, 2015 Mon | 4:06 pmafter market close | Mar 31, 2015 | $197M+12% y/y | $0.25−46% y/y |
| Feb 2, 2015 Mon | 4:05 pmafter market close | Dec 31, 2014 | $189M+12% y/y | −$0.23 |
| Nov 3, 2014 Mon | 8:28 ambefore market open | Sep 30, 2014 | $186M+17% y/y | $0.39+11% y/y |
| Jul 28, 2014 Mon | 4:10 pmafter market close | Jun 30, 2014 | $176M+15% y/y | $0.39+3% y/y |
| May 5, 2014 Mon | 4:02 pmafter market close | Mar 31, 2014 | $176M+17% y/y | $0.46+28% y/y |
| Feb 3, 2014 Mon | 7:37 pmafter market close | Dec 31, 2013 | $169M+12% y/y | $0.51+50% y/y |
| Oct 29, 2013 Tue | 1:23 pmduring market hours | Sep 30, 2013 | $158M+11% y/y | $0.35+106% y/y |
| Jul 30, 2013 Tue | 2:30 pmduring market hours | Jun 30, 2013 | $154M+6% y/y | $0.38+31% y/y |
| Apr 30, 2013 Tue | 2:30 pmduring market hours | Mar 31, 2013 | $150M+11% y/y | $0.36+20% y/y |
| Feb 7, 2013 Thu | 2:31 pmduring market hours | Dec 31, 2012 | ≈$151M+9% y/y | ≈$0.34−23% y/y |
| Oct 29, 2012 Mon | 1:01 pmduring market hours | Sep 30, 2012 | $143M+3% y/y | $0.17−57% y/y |
| Jul 31, 2012 Tue | 2:31 pmduring market hours | Jun 30, 2012 | $145M+6% y/y | $0.29−34% y/y |
| May 2, 2012 Wed | 2:21 pmduring market hours | Mar 31, 2012 | $135M+1% y/y | $0.30−32% y/y |
| Feb 8, 2012 Wed | 2:15 pmduring market hours | Dec 31, 2011 | $139M | $0.44 |
| Oct 26, 2011 Wed | 2:31 pmduring market hours | Sep 30, 2011 | $138M | $0.40 |
| Jul 28, 2011 Thu | 2:31 pmduring market hours | Jun 30, 2011 | $137M | $0.44 |
| May 5, 2011 Thu | 2:30 pmduring market hours | Mar 31, 2011 | $133M | $0.44 |
Show all 62 reports since 2011Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Alexandria Real Estate Equities: 15-year financials
| 2025 | 3,027 | −1,430 | 912 |
| 2024 | 3,116 | 323 | 899 |
| 2023 | 2,886 | 104 | 848 |
| 2022 | 2,589 | 522 | 758 |
| 2021 | 2,114 | 571 | 656 |
| 2020 | 1,886 | 771 | 533 |
| 2019 | 1,531 | 363 | 447 |
| 2018 | 1,328 | 379 | 381 |
| 2017 | 1,128 | 169 | 312 |
| 2016 | 922 | −65.9 | 240 |
| 2015 | 844 | 144 | 218 |
| 2014 | 727 | 102 | 202 |
| 2013 | 631 | 136 | 169 |
| 2012 | 575 | 93.3 | 127 |
| 2011 | 537 | 113 | 107 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $15.6B (45% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
Alexandria Real Estate Equities (ARE) earnings: FAQ
How does Alexandria Real Estate Equities make money?
Alexandria Real Estate Equities brought in $663 million of revenue in Q2 2026, down 13.0% year over year. The largest source was Income from rentals: $643 million, or 97% of the total; other lines add the remaining 3%.
When is ARE's next earnings date?
We have not yet seen an announcement of the date from Alexandria Real Estate Equities (ARE). Based on last year's report on Oct 27, 2025, the next report is expected around Oct 26, 2026.
What time does ARE report earnings?
Alexandria Real Estate Equities usually reports after market close: its latest results release was filed with the SEC at 4:07 pm ET on Aug 3, 2026.
When did ARE last report earnings?
Alexandria Real Estate Equities reported Q2 2026 results on Aug 3, 2026.
Where can I find Alexandria Real Estate Equities's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to ARE's filings; this page breaks the latest report down in a Sankey chart.
Does Alexandria Real Estate Equities pay dividends?
Yes. In 2025, Alexandria Real Estate Equities paid $912M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has Alexandria Real Estate Equities's revenue changed since 2011?
Per its 10-K filings, revenue grew 5.6x: $537M in 2011 and $3,027M in 2025. The peak was $3,116M in 2024. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
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