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Alexandria Real Estate Equities, Inc. (ARE)

Alexandria Real Estate Equities owns, operates and develops laboratory and office property for the life science industry. It is a Maryland corporation formed in October 1994 and taxed as a REIT, and the filing says it pioneered the life science real estate niche at its founding. Its buildings are clustered into what it calls Megacampus ecosystems, in Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City.

Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities owns, operates and develops laboratory and office property for the life science industry. It is a Maryland corporation formed in October 1994 and taxed as a REIT, and the filing says it pioneered the life science real estate niche at its founding. Its buildings are clustered into what it calls Megacampus ecosystems, in Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City.

The portfolio

At the end of 2025 Alexandria had 340 properties in North America, comprising approximately 39.4 million rentable square feet of operating properties and new development and redevelopment properties under construction. Of that, 35.9 million rentable square feet were operating properties and 3.5 million were under construction. Within the 340, 47 operating properties and development projects were held by consolidated real estate joint ventures and three by unconsolidated ones.

Occupancy of the North American operating portfolio was 90.9 percent at the end of 2025. The ten-year average occupancy as of the same date was 95 percent.

Who rents the space

Multinational pharmaceutical companies, public and private biotechnology companies, life science product, service and medical device companies, digital health, advanced technology and agtech companies, academic and medical research institutions, US government research agencies, non-profit organisations, and venture capital firms. Investment-grade or publicly traded large cap tenants accounted for 53 percent of total annual rental revenue in effect at the end of 2025.

The lease structure

At the end of 2025 approximately 92 percent of leases, measured on annual rental revenue, were triple net leases, which require tenants to pay substantially all real estate taxes, insurance, and the other operating costs of the building.

What the clustering is for

The company's stated strategy centres on Class A and A+ properties in collaborative Megacampus ecosystems. Those campuses are described as designed for optionality and scalability, giving a tenant a path to grow within them, including through the company's own future development and redevelopment. They are placed near top academic and medical research institutions, with curated amenities and services and convenient access to transit, which the company says supports its tenants in attracting and retaining talent and which it believes is a key driver of demand for its properties. The strategy also relies on long-standing real estate and life science industry relationships to retain tenants, attract new ones and source further real estate.

A second activity

Alexandria also provides strategic capital to life science companies through a venture capital platform of its own. That means some of its exposure is to the companies in the sector rather than only to the buildings they occupy.

What the company flags about its market

The filing names, among the market trends and uncertainties that had or may have a negative effect on the business, a surge in supply and a decrease in demand that have led to industry-wide elevated vacancy rates.

From Alexandria Real Estate Equities' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Alexandria Real Estate Equities became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 26 October 2026
Revenue
$671 million
-10.7% on the year · +1.3% on the quarter
Q4 FY2024Q3 FY2026
Net income
-$638 million
Q4 FY2024Q3 FY2026
Diluted EPS
-$3.74
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 26 January 2026
Revenue
$3.0 billion
-2.9% on the year
FY2018FY2025
Net income
-$1.4 billion
FY2018FY2025
Diluted EPS
-$8.44
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsAlexandria Real Estate Equities (ARE) reported revenue of $3.0 billion for fiscal 2025, the year ended 31 December 2025, down 2.9% on the year before. Net loss was $1.4 billion and the diluted loss per share $8.44. Revenue was $3.1 billion in fiscal 2024, $2.9 billion in fiscal 2023, $2.6 billion in fiscal 2022 and $2.1 billion in fiscal 2021. Net income in the same years was $323 million, $104 million, $522 million and $571 million. Over the twelve months to 30 September 2026, Alexandria Real Estate Equities reported revenue of $2.8 billion and net loss of $1.4 billion. Revenue grew 9.9% a year, compounded, over the five years to fiscal 2025. Alexandria Real Estate Equities declared $2.88 a share in dividends over the last four quarters and had 174 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Alexandria Real Estate Equities was $7.8 billion.

Ratios

From the filings

ROE-9.7%
ROCE-8.5%
Operating margin-85.8%
Net margin-51.8%
FCF margin-17.1%
Interest cover-8.6x
Debt to equity0.87x
Cash conversionn/a
Share count, last 12 months0.8%
Sales CAGR, 3 years5.3%
Profit CAGR, 3 yearsn/a
EPS, TTM-$8.42

At the close of 6 November 2026

Price$44.80
Market cap$7.8 billion
Stock P/En/a
Price to book0.53x
EV / EBITDAn/a
Dividend yield6.4%
Market cap / sales2.8x
52-week high$59.69
52-week low$39.91
Price, 1 year-15.8%
Price CAGR, 3 years-23.4%
Price CAGR, 5 years-26.3%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Alexandria Real Estate Equities, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
AREgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue577615644660670701714714757769767792789758762752754671663671
Operating income85.412313492.0115167-3.0149-114175138171-56.576.0-22.5-236-1,61136.7-173-620
Operating margin15%20%21%14%17%24%-0%21%-15%23%18%22%-7%10%-3%-31%-214%5%-26%-92%
Interest expense34.929.424.323.017.513.817.111.432.040.845.843.555.750.955.354.965.764.664.379.7
Net income74.9-15027234554.377.989.924.3-88.417146.7168-62.2-8.9-107-233-1,081362-72.8-638
Net margin13%-24%42%52%8%11%13%3%-12%22%6%21%-8%-1%-14%-31%-143%54%-11%-95%
Diluted EPS$0.50-$0.96$1.67$2.11$0.31$0.44$0.51$0.13-$0.54$0.97$0.25$0.96-$0.38-$0.07-$0.64-$1.38-$6.35$2.10-$0.43-$3.74
Operating cash flow250191339363401306478418429341412477274208460433312197337342
Capital expenditure548666711946983873939789817693548691490646435458332546403379
Free cash flow-298-475-372-583-582-568-460-371-389-352-136-214-216-43825.1-24.1-19.9-349-66.4-37.0
Buybacksn/an/an/an/an/an/an/an/an/a0.00.00.050.12080.00.00.00.00.00.0
Dividends paid174184188193194209209215214222222227227230227227227124124124
Shares outstanding158m163m163m164m171m173m173m174m172m175m175m175m172m173m173m173m171m174m174m174m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4554824615375746317278439221,1281,3271,5311,8862,1142,5892,8863,1163,0272,759
Operating income10112467.111794.813598.6132-53.4178213199244256464198427-1,793-2,367
Operating margin22.2%25.7%14.6%21.8%16.5%21.3%13.6%15.7%-5.8%15.8%16.1%13.0%12.9%12.1%17.9%6.9%13.7%-59.2%-85.8%
Interest expense85.482.269.663.469.268.079.310610712915717417214294.274.2186227274
Net income12012812311393.3136102144-65.9169379363771571522104323-1,430-1,430
Net margin26.4%26.6%26.7%21.1%16.2%21.6%14.0%17.1%-7.1%15.0%28.6%23.7%40.9%27.0%20.1%3.6%10.4%-47.2%-51.8%
Diluted EPS$2.86$2.72$2.19$1.73$1.09$1.60$1.01$1.63-$1.99$1.58$3.52$3.12$6.01$3.82$3.18$0.54$1.80-$8.44-$8.42
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2022 to FY2025

FY2022FY2023FY2024FY2025Share
of the parts, latest year
Reportable Segment, Aggregation before Other Operating Segment2,4542,7062,9282,83593.7%
Other Operating Segment1351791891916.3%
Reportable Segment, Aggregation before Other Operating SegmentOther Operating Segment
2,589FY20222,886FY20233,116FY20243,027FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow2572072272473063133343433934505706848831,0101,2941,6311,5051,4141,188
Capital expenditure5424434244305495934985648228949271,2251,4452,0903,3073,4182,4231,8711,660
Free cash flow-285-236-197-183-243-281-163-222-428-443-357-541-563-1,080-2,013-1,788-918-457-473
Free cash flow margin-62.7%-49.0%-42.8%-34.1%-42.4%-44.5%-22.5%-26.3%-46.5%-39.3%-26.9%-35.3%-29.8%-51.1%-77.8%-62.0%-29.5%-15.1%-17.1%
Cash from investing-495-407-445-734-558-591-635-722-1,497-1,738-2,162-3,641-3,278-7,107-5,080-2,501-1,511362634
Cash from financing3011982384793151983314191,0941,4201,5882,9272,7505,9164,230674-93.3-1,784-1,894
Depreciation and amortisation1071171211511861892242613134174785456988211,0021,0931,2021,3501,236
Share-based compensation13.714.110.811.814.215.614.017.525.425.635.043.643.548.757.782.959.641.141.4
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.050.12080.0
Dividends paid10186.767.9107126169202218240312381447533656758847899911598
Dividend per sharen/an/an/an/an/an/an/an/an/a$3.45$3.73$4.00$4.24$4.48$4.72$4.96$5.19$4.68n/a
Diluted shares, weightedn/a39m48m59m62mn/a71m72m76m92m103m113m126m147m162m171m172m170m171m
Shares outstanding at period endn/a44m55m62m63m71m71m71m88m100m111m121m137m158m171m172m172m171m174m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,7412,3232,9293,3743,4423,9173,8283,9754,8965,9507,3428,86611,72616,19018,97218,47117,88915,47014,807
Non-controlling interestn/a41.241.642.646.647.766.83054755225421,2881,7072,8343,7014,1354,4893,6283,602
Redeemable equityn/an/a15.916.014.614.414.314.211.311.510.812.311.39.69.616.520.058.89.1
Debtn/an/a2,5842,7793,1823,0613,6793,9664,1644,7655,4786,7777,5638,79210,16011,31612,24412,40112,897
Other liabilitiesn/a3,0933353624654905486218098561,0921,4471,8212,3942,6802,8332,8852,5252,736
Total liabilities and equityn/a5,4575,9066,5747,1507,5308,1368,88110,35512,10414,46518,39122,82830,21935,52336,77137,52734,08234,052
Owned
Fixed assetsn/an/an/an/an/an/a9.613.712.811.114.823.031.126.423.226.639.670.377.3
Intangible assetsn/an/a-27.3-17.9-14.7-11.4-8.8n/an/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents71.270.691.278.514157.786.0125125254234190569361825618552549509
Other assetsn/a5,3875,8426,5147,0247,4838,0498,74210,21711,83914,21618,17822,22829,83234,67536,12736,93633,46233,466
Total assetsn/a5,4575,9066,5747,1507,5308,1368,88110,35512,10414,46518,39122,82830,21935,52336,77137,52734,08234,052
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded13.6%9.9%5.3%-9.9%
Profit growth, compoundedn/an/an/an/a
Return on equity, average1.7%-0.1%-2.3%-9.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Alexandria Real Estate Equities' revenue in fiscal 2025?

Alexandria Real Estate Equities (ARE) reported revenue of $3.0 billion for fiscal 2025, the year ended 31 December 2025, down 2.9% on the year before.

How much did Alexandria Real Estate Equities earn in fiscal 2025?

Net loss was $1.4 billion for fiscal 2025, and the diluted loss per share $8.44.

What is Alexandria Real Estate Equities' market cap?

The market cap of Alexandria Real Estate Equities was $7.8 billion at the close of 6 November 2026.

Does Alexandria Real Estate Equities pay a dividend?

Yes. Alexandria Real Estate Equities declared $2.88 a share in dividends over the four quarters to 30 September 2026.

Peers: Trading

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Welltower Inc. WELL$179.3 billion106.063.4%-1.9%39.2%0.401.3%
Prologis, Inc. PLD$120.7 billion28.037.6%54.8%7.2%0.663.3%
Equinix Inc. EQIX$100.2 billion60.7911.3%22.5%11.1%1.572.0%
American Tower Corp. AMT$87.7 billion26.6394.2%44.8%5.3%10.693.7%
Simon Property Group Inc. SPG$73.9 billion16.48110.4%45.9%16.2%6.963.9%
Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
All 181 in Trading
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Morgan Stanley MS$284.0 billion14.4017.5%n/a16.2%3.322.3%
Goldman Sachs Group Inc. GS$249.8 billion12.4417.7%n/a18.7%3.562.1%
BlackRock, Inc. BLK$182.3 billion26.8111.9%32.5%24.7%0.221.9%
Welltower Inc. WELL$179.3 billion106.063.4%-1.9%39.2%0.401.3%
Charles Schwab Corp. SCHW$157.9 billion15.6120.7%n/a18.1%0.461.3%
Prologis, Inc. PLD$120.7 billion28.037.6%54.8%7.2%0.663.3%
CME Group Inc. CME$109.7 billion25.1016.8%65.7%9.0%0.133.7%
Equinix Inc. EQIX$100.2 billion60.7911.3%22.5%11.1%1.572.0%
Intercontinental Exchange, Inc. ICE$96.1 billion23.5013.9%40.6%12.1%0.781.2%
Blackstone Inc. BX$90.8 billion26.5640.2%47.9%22.1%1.533.9%
American Tower Corp. AMT$87.7 billion26.6394.2%44.8%5.3%10.693.7%
KKR & Co. Inc. KKR$86.6 billion30.7210.2%n/a31.1%1.720.8%
Brookfield Asset Management Ltd. BAM$84.6 billionn/an/a58.6%31.9%0.38n/a
Simon Property Group Inc. SPG$73.9 billion16.48110.4%45.9%16.2%6.963.9%
Robinhood Markets, Inc. HOOD$72.9 billion37.2919.7%45.7%20.9%0.26n/a
Apollo Global Management, Inc. APO$69.0 billionn/a-5.8%9.8%12.2%0.921.8%
Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Nasdaq, Inc. NDAQ$59.8 billion29.2717.4%29.7%11.9%0.731.1%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Ameriprise Financial Inc. AMP$43.6 billion11.2981.4%26.8%10.0%1.17n/a
Ares Management Corp. ARES$42.0 billionn/a11.3%17.7%7.6%2.033.9%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Cboe Global Markets, Inc. CBOE$36.8 billion25.1125.0%36.4%14.3%0.240.9%
Interactive Brokers Group, Inc. IBKR$34.4 billion29.1618.9%n/a19.7%n/a0.4%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
Raymond James Financial Inc. RJF$31.3 billion14.1918.2%n/a10.5%0.071.3%
Tradeweb Markets Inc. TW$29.7 billion29.9913.7%44.1%14.4%0.000.4%
Nomura Holdings Inc. NMR *$27.3 billion12.459.8%n/a14.0%n/a4.4%
Vici Properties Inc. VICI$27.3 billion11.378.1%n/a4.7%0.587.3%
Vivmark Residential VMRK$24.6 billion28.488.3%28.2%2.8%0.794.3%
T. Rowe Price Group, Inc. TROW$23.1 billion10.9619.2%32.0%6.9%0.004.8%
LPL Financial Holdings Inc. LPLA$23.0 billion16.9524.0%9.2%31.0%1.340.4%
Royal Gold Inc. RGLD$22.5 billion26.7910.8%62.0%105.2%0.020.7%
Pershing Square Inc. PS$20.6 billionn/a-9.0%0.2%n/a0.21n/a
SBA Communications Corp. SBAC$19.8 billion20.45n/a47.7%2.3%n/a2.6%
Texas Pacific Land Corp. TPL$18.8 billion32.0032.6%75.5%25.3%0.000.9%
TPG Inc. TPG$17.9 billion59.186.8%n/a18.8%0.574.8%
Essex Property Trust, Inc. ESS$17.5 billion50.556.6%29.5%4.5%1.253.8%
Franklin Templeton Inc. BEN$17.1 billion22.976.9%9.7%7.9%0.203.9%
Kimco Realty Corp. KIM$17.0 billion23.847.4%40.1%3.5%0.834.2%
Host Hotels & Resorts, Inc. HST$16.9 billion17.9814.8%14.8%5.0%0.806.1%
Lamar Advertising Co. LAMR$15.8 billion27.5155.8%32.1%5.1%3.394.3%
Blue OWL Capital Inc. OWL$15.4 billion70.144.9%-105.8%119.9%1.898.7%
Weyerhaeuser Co. WY$15.1 billion33.294.8%11.7%-1.1%0.574.0%
W. P. Carey Inc. WPC$15.0 billion22.437.4%43.8%9.0%1.005.7%
Annaly Capital Management Inc. NLY$14.7 billion13.117.1%n/a28.4%2.4314.9%
Omega Healthcare Investors Inc. OHI$14.6 billion19.3613.8%73.4%14.0%0.735.6%
Sun Communities Inc. SUI$14.4 billionn/a-14.7%4.2%2.9%0.723.7%
Carlyle Group Inc. CG$14.0 billion42.225.4%16.6%-7.6%0.463.5%
Healthpeak Properties, Inc. DOC$14.0 billion37.564.8%4.0%9.4%1.196.0%
Mid-America Apartment Communities, Inc. MAA$13.8 billion36.057.3%n/a1.0%1.105.1%
Regency Centers Corp. REG$13.7 billion26.747.7%72.0%8.4%0.724.0%
American Healthcare REIT, Inc. AHR$13.4 billion118.201.7%20.2%21.5%0.251.7%
SEI Investments Co. SEIC$12.5 billion18.3128.3%29.4%12.8%0.011.0%
Equity Lifestyle Properties Inc. ELS$12.2 billion31.0123.1%26.1%3.2%1.893.4%
Invesco Ltd. IVZ$11.9 billionn/a-2.5%-4.5%13.7%0.103.1%
Udr, Inc. UDR$11.7 billion17.2522.3%52.2%0.6%1.844.7%
American Homes 4 Rent AMH$11.7 billion26.916.7%15.2%3.5%0.773.9%
Stifel Financial Corp. SF$11.4 billion12.2816.1%n/a10.9%0.101.8%
Gaming & Leisure Properties, Inc. GLPI$11.3 billion11.8918.9%79.1%7.3%1.638.2%
Freedom Holding Corp. FRHC$11.0 billionn/an/an/an/an/an/a
Jefferies Financial Group Inc. JEF$10.9 billionn/a8.3%n/a17.7%1.723.4%
Evercore Inc. EVR$10.8 billion15.6339.2%21.3%36.6%0.281.2%
Eastgroup Properties Inc. EGP$10.4 billion32.848.9%40.8%10.4%0.513.3%
Bxp, Inc. BXP$10.4 billion19.4710.3%29.2%2.7%3.204.3%
Houlihan Lokey, Inc. HLI$10.1 billion24.4617.5%20.3%-0.4%0.001.8%
CubeSmart CUBE$10.1 billion29.8114.0%40.8%3.3%1.434.7%
Camden Property Trust CPT$10.0 billion9.2824.6%n/a-1.0%0.934.2%
Janus Living, Inc. JAN$9.9 billionn/a0.2%n/an/a0.00n/a
CareTrust REIT, Inc. CTRE$9.8 billion24.046.8%54.6%43.6%0.393.9%
Federal Realty Investment Trust FRT$9.7 billion22.5313.6%47.7%7.8%1.504.0%
Affiliated Managers Group, Inc. AMG$9.4 billion12.5628.2%15.1%11.8%0.990.0%
Brixmor Property Group Inc. BRX$9.2 billion21.9114.1%n/a5.7%1.764.1%
Ryman Hospitality Properties, Inc. RHP$9.1 billion31.8920.2%19.6%12.9%3.403.6%
Agree Realty Corp. ADC$9.1 billion36.033.5%48.9%17.7%0.543.8%
Morningstar, Inc. MORN$9.1 billion21.3343.4%24.5%9.4%1.640.8%
Lineage, Inc. LINE$8.9 billionn/a-2.1%3.6%1.0%0.795.4%
Virtu Financial, Inc. VIRT$8.4 billion7.9231.1%32.4%26.1%2.381.8%
Rexford Industrial Realty, Inc. REXR$8.1 billionn/a-6.4%39.8%-2.0%0.394.6%
NNN REIT, Inc. NNN$8.0 billion19.598.7%62.9%7.3%1.105.9%
Alexandria Real Estate Equities, Inc. ARE$7.8 billionn/a-9.7%-85.8%-9.9%0.876.4%
Victory Capital Holdings, Inc. VCTR$7.4 billion21.9218.8%40.4%36.9%0.401.6%
InterDigital, Inc. IDCC$7.4 billion31.4625.2%45.1%-12.0%0.251.0%
First Industrial Realty Trust Inc. FR$7.1 billion19.9912.9%41.6%8.5%0.963.6%
Stag Industrial, Inc. STAG$7.1 billion25.967.4%37.7%9.3%0.944.2%
Macerich Co. MAC$7.1 billionn/a-3.6%-12.0%-1.3%1.902.7%
Vornado Realty Trust VNO$6.7 billionn/a0.2%n/a1.6%1.272.1%
Healthcare Realty Trust Inc. HR$6.5 billionn/a-1.1%n/a-5.8%1.045.0%
StoneX Group Inc. SNEX$6.5 billion9.3918.5%n/a48.7%6.97n/a
Rayonier Inc. RYN$6.4 billion37.143.0%12.0%24.1%0.354.9%
Essential Properties Realty Trust, Inc. EPRT$6.2 billion22.745.8%60.6%20.4%0.664.5%
Dolby Laboratories, Inc. DLB$6.1 billion27.598.8%17.7%0.6%0.002.2%
Marketaxess Holdings Inc. MKTX$5.8 billion20.2722.9%39.1%3.9%0.071.9%
StepStone Group Inc. STEP$5.7 billionn/an/a-58.2%48.5%n/a3.1%
SSR Mining Inc. SSRM$5.7 billion24.067.7%40.9%39.4%0.00n/a
Sabra Health Care REIT, Inc. SBRA$5.5 billion75.042.5%n/a23.4%0.865.7%
Outfront Media Inc. OUT$5.4 billion21.0936.6%20.7%9.1%3.594.0%
Galaxy Digital Inc. GLXY$5.3 billionn/a-18.5%-2.3%66.0%1.55n/a
Phillips Edison & Company, Inc. PECO$5.2 billion28.157.5%n/a7.0%1.055.6%
Rithm Capital Corp. RITM$5.2 billionn/an/an/an/a3.5010.8%
Kite Realty Group Trust KRG$5.0 billion15.7112.4%17.4%-7.3%1.024.6%
Hamilton Lane Inc. HLNE$5.0 billion13.2628.2%43.7%18.9%0.27n/a
BGC Group, Inc. BGC$5.0 billion25.5718.0%4.7%27.6%1.600.8%
HA Sustainable Infrastructure Capital, Inc. HASI$5.0 billion40.525.5%n/a22.6%2.364.4%
Cousins Properties Inc. CUZ$4.9 billion328.830.3%68.3%8.5%0.804.3%
Federated Hermes, Inc. FHI$4.7 billion11.5732.5%27.8%13.2%0.272.2%
Howard Hughes Holdings Inc. HHH$4.6 billion30.714.3%18.1%42.8%1.44n/a
Americold Realty Trust COLD$4.6 billion19.307.9%15.1%1.3%1.035.7%
EPR Properties EPR$4.6 billion16.8112.7%59.0%7.3%1.436.1%
Apple Hospitality REIT, Inc. APLE$4.5 billion23.905.9%18.3%3.2%0.475.1%
Tanger Inc. SKT$4.4 billionn/an/an/an/a2.44n/a
Piper Sandler Companies PIPR$4.4 billion15.5321.9%n/a21.1%n/a3.0%
Starwood Property Trust, Inc. STWD$4.4 billionn/a-4.0%-12.7%14.4%3.4015.9%
Lazard, Inc. LAZ$4.2 billion23.2219.5%8.1%9.2%1.785.2%
Kilroy Realty Corp. KRC$4.2 billion149.250.6%n/a-3.6%0.846.0%
Cohen & Steers, Inc. CNS$3.8 billion22.4627.8%32.4%8.6%0.003.6%
Copt Defense Properties CDP$3.7 billion22.2111.0%30.2%7.2%1.673.8%
PJT Partners Inc. PJT$3.7 billion21.2552.5%20.5%10.2%0.000.7%
LXP Industrial Trust LXP$3.6 billion31.545.9%n/a-3.5%0.664.5%
SL Green Realty Corp. SLG$3.6 billionn/a-3.7%61.7%9.7%1.255.2%
Independence Realty Trust, Inc. IRT$3.5 billion57.651.8%16.6%3.1%0.724.7%
Highwoods Properties, Inc. HIW$3.5 billion18.747.8%67.2%5.4%1.486.4%
Miami International Holdings, Inc. MIAX$3.4 billion12.7724.3%10.9%n/a0.00n/a
National Health Investors Inc. NHI$3.4 billion20.5910.6%n/a23.9%0.815.2%
Broadstone Net Lease, Inc. BNL$3.4 billion23.045.1%46.0%8.0%1.016.7%
Acadian Asset Management Inc. AAMI$3.2 billion26.66n/a25.5%27.9%n/a0.3%
Artisan Partners Asset Management Inc. APAM$3.2 billion9.1669.7%33.4%8.7%0.438.1%
WisdomTree, Inc. WT$2.9 billion27.4424.8%39.9%45.2%2.380.6%
DiamondRock Hospitality Co. DRH$2.9 billion17.7710.7%16.6%2.1%0.712.9%
Acadia Realty Trust AKR$2.7 billion70.732.0%53.3%-0.3%0.784.0%
Four Corners Property Trust, Inc. FCPT$2.6 billion21.497.3%n/a10.2%0.966.3%
CoreCivic, Inc. CXW$2.5 billion1.8563.5%9.9%26.9%0.28n/a
InvenTrust Properties Corp. IVT$2.5 billion85.221.6%-7.7%12.6%0.583.1%
LTC Properties Inc. LTC$2.5 billion4.7030.8%58.5%70.4%0.605.1%
Netstreit Corp. NTST$2.4 billion85.411.1%32.5%27.1%0.604.7%
Pebblebrook Hotel Trust PEB$2.4 billionn/a-2.9%3.1%2.8%0.890.2%
SmartStop Self Storage REIT, Inc. SMA$2.2 billion67.122.9%22.9%20.7%1.00n/a
RLJ Lodging Trust RLJ$1.9 billion121.901.7%10.0%4.1%1.034.8%
Douglas Emmett Inc. DEI$1.7 billionn/a-1.1%18.8%1.8%3.147.5%
Diversified Healthcare Trust DHC$1.7 billionn/a-9.9%-2.3%-3.8%1.600.6%
Global Net Lease, Inc. GNL$1.5 billionn/a-3.4%37.9%-21.8%1.7811.0%
CBL & Associates Properties Inc. CBL$1.5 billion6.8150.8%27.2%9.0%4.76n/a
American Assets Trust, Inc. AAT$1.3 billion61.541.9%23.6%1.1%1.526.3%
Alexanders Inc. ALX$1.3 billion6.7883.9%n/a8.2%3.677.1%
UMH Properties, Inc. UMH$1.3 billion298.400.5%n/a8.5%0.976.0%
Digital Turbine, Inc. APPS$1.3 billionn/a-18.3%10.3%19.2%1.85n/a
Medical Properties Trust Inc. MPT$1.1 billion4.405.4%3.7%10.5%2.0019.9%
Easterly Government Properties, Inc. DEA$1.1 billion77.521.1%23.9%11.4%1.288.0%
Ridgepost Capital, Inc. RPC$1.1 billion31.326.8%27.2%8.2%0.921.5%
Oppenheimer Holdings Inc. OPY$974 million12.238.7%7.2%13.9%n/a0.8%
Centerspace CSR$964 million10.7311.5%56.1%-6.0%1.025.4%
Orchid Island Capital, Inc. ORC$960 million98.60-0.5%95.7%74.8%9.2126.8%
Empire State Realty Trust, Inc. ESRT$918 million265.250.3%-4.4%2.0%2.142.6%
Abacus Global Management, Inc. ABX$852 million32.526.5%31.8%65.3%0.76n/a
Virtus Investment Partners, Inc. VRTS$846 million7.2812.7%15.7%-7.2%0.447.5%
CTO Realty Growth, Inc. CTO$783 million17.726.5%37.5%15.9%1.05n/a
Summit Hotel Properties, Inc. INN$755 millionn/a-2.5%9.9%2.4%1.654.6%
Safehold Inc. SAFE$749 million6.584.7%24.9%16.5%1.956.7%
Postal Realty Trust, Inc. PSTL$742 million38.904.7%38.2%22.3%0.944.4%
JBG Smith Properties JBGS$739 millionn/a-20.4%0.8%3.0%2.545.6%
Chatham Lodging Trust CLDT$722 million96.882.2%13.4%3.8%0.562.5%
Saul Centers, Inc. BFS$709 million31.0411.6%66.7%9.2%5.588.3%
PennyMac Mortgage Investment Trust PMT$685 million17.094.6%22.3%-11.5%1.7920.4%
Service Properties Trust SVC$674 million14.03-65.1%-6.1%-15.6%6.352.9%
Chimera Investment Corp. CIM$613 millionn/a-7.9%n/a12.4%4.0923.5%
Brandywine Realty Trust BDN$553 millionn/a-21.5%19.0%3.5%3.739.8%
Universal Health Realty Income Trust UHT$544 million26.9914.5%35.9%-0.0%2.847.6%
TPG RE Finance Trust, Inc. TRTX$512 million17.314.4%n/a-2.4%4.1014.2%
Franklin BSP Realty Trust, Inc. FBRT$470 millionn/a1.4%n/a16.4%2.9215.4%
One Liberty Properties Inc. OLP$446 million18.668.6%48.3%10.7%1.838.5%
BrightSpire Capital, Inc. BRSP$416 million23.862.2%27.0%2.5%2.9819.2%
NexPoint Residential Trust, Inc. NXRT$415 millionn/a-16.6%10.6%0.7%7.2413.0%
Industrial Logistics Properties Trust ILPT$397 millionn/a-14.9%33.7%3.5%9.854.2%
Farmland Partners Inc. FPI$369 million55.002.3%12.4%-5.6%0.5615.8%
Arbor Realty Trust Inc. ABR$299 millionn/a-4.2%n/a-12.9%4.4158.6%
Apollo Commercial Real Estate Finance, Inc. ARI$297 million2.9010.5%35.1%-14.7%n/a43.1%
Mesabi Trust MSB$226 million34.8836.9%n/a-87.6%0.00n/a
North European Oil Royalty Trust NRT$65 millionn/an/an/an/an/an/a
115 companies share its SEC industry code (Real Estate Investment Trusts); the rest are the names nearest in size in its wider industry, Trading, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on ARE

Dividends$2.88 a share over the four quarters to 30 September 2026, a 6.43% yield
Filings23 in twelve months: 15 current reports (8-K), about 4 results of operations; 4 material agreement; 4 new financial obligation; 3 other events; 2 officer or director change
Planned insider sales6 Form 144 notices in twelve months, $1.9 million; latest 11 September 2026
Options tapeput/call 1.17 by open interest at the 6 November 2026 close; the straddle prices a 7.9% move to 20 November 2026
13F holders600 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading6 sales and 12 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest7.3 million shares short, 3.20 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202626 October 2026EDGAR
10-Q30 June 20263 August 2026EDGAR
10-Q31 March 202627 April 2026EDGAR
10-K31 December 202526 January 2026EDGAR
10-Q30 September 202527 October 2025EDGAR
10-Q30 June 202521 July 2025EDGAR
10-Q31 March 202528 April 2025EDGAR
10-K31 December 202427 January 2025EDGAR
10-Q30 September 202421 October 2024EDGAR
10-Q30 June 202422 July 2024EDGAR

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