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Last $88.44 USD
Change Today +0.16 / 0.18%
Volume 273.3K
ARE On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

alexandria real estate equit (ARE) Snapshot

Open
$88.38
Previous Close
$88.28
Day High
$88.93
Day Low
$87.52
52 Week High
03/23/15 - $102.96
52 Week Low
09/26/14 - $72.91
Market Cap
6.4B
Average Volume 10 Days
375.0K
EPS TTM
$1.77
Shares Outstanding
72.3M
EX-Date
06/26/15
P/E TM
50.1x
Dividend
$3.08
Dividend Yield
3.36%
Current Stock Chart for ALEXANDRIA REAL ESTATE EQUIT (ARE)

alexandria real estate equit (ARE) Related Businessweek News

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alexandria real estate equit (ARE) Details

Alexandria Real Estate Equities, Inc., a real estate investment trust (REIT), engages in the ownership, operation, management, development, acquisition, and redevelopment of properties for the life sciences industry. Its properties consist of buildings containing scientific research and development laboratories, and other improvements. The company offers its properties for lease primarily to universities and independent not-for-profit institutions; and pharmaceutical, biotechnology, medical device, life science product, service, biodefense, and translational research entities, as well as governmental agencies. As of December 31, 2006, it had 159 properties, including 156 properties located in 9 states in the United States and 3 properties located in Canada. As a REIT, the company is not subject to federal income tax to the extent that it distributes 100% of its taxable income to its stockholders. The company was founded in 1993 and is based in Pasadena, California.

243 Employees
Last Reported Date: 02/24/15
Founded in 1993

alexandria real estate equit (ARE) Top Compensated Officers

Founder, Chairman, Chief Executive Officer an...
Total Annual Compensation: $895.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $1.1M
Chief Operating Officer and Regional Market D...
Total Annual Compensation: $1.1M
Executive Vice President and Regional Market ...
Total Annual Compensation: $1.1M
Executive Vice President and Regional Market ...
Total Annual Compensation: $935.0K
Compensation as of Fiscal Year 2014.

alexandria real estate equit (ARE) Key Developments

Alexandria Real Estate Equities, Inc. Announces Long-Term Full Building Lease with Pinterest at 505 Brannan Street for New Tech Office Facility

Alexandria Real Estate Equities, Inc. announced that Pinterest has signed a long-term full-building lease for 150,000 RSF at 505 Brannan Street in the South of Market (SoMa) neighborhood of San Francisco. The 505 Brannan Street site is fully entitled under Proposition M, and vertical construction will commence beginning in early 2016. The building is targeted for LEED Platinum certification, and is expected to be placed into service in early 2017.

Alexandria Real Estate Equities, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year Ending December 31, 2015

Alexandria Real Estate Equities, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's total revenues were $204,156,000 compared with $176,402,000 a year ago. Income from continuing operations was $38,430,000 or $0.44 per basic and diluted share compared with $35,466,000 or $0.39 per basic and diluted share a year ago. Net income attributable to the company's common stockholders was $31,291,000 or $0.44 per basic and diluted share compared with $27,932,000 or $0.39 per basic and diluted share a year ago. FFO at negative was $1,274,000 compared with $1,648,000 a year ago. Funds from operations attributable to the company's common stockholders -diluted, as adjusted were $93,620,000 or $131 per share compared to $84,513,000 or $1.19 per share for the same period a year ago. Diluted AFFO attributable to the company's common stockholders was $76,820,000 or $1.08 per share compared with $72,506,000 or $1.02 per share a year ago. FFO attributable to company’s common stockholders – basic and diluted were $93,433,000 or $1.31 per share compared with $84,513,000 or $1.19 per share a year ago. Net operating income, including share of unconsolidated joint ventures was $142.8 million, up $18.8 million, or 15.1%, compared to $124.0 million a year ago. For the six months, the company's total revenues were $400,909,000 compared with $352,588,000 a year ago. Income from continuing operations was $63,481,000 or $0.69 per basic and diluted share compared with $76,377,000 or $0.85 per basic and diluted share a year ago. Net income attributable to the company's common stockholders was $49,077,000 or $0.69 per basic and diluted share compared with $60,641,000 or $0.85 per basic and diluted share a year ago. FFO at negative was $2,415,000 compared with $3,277,000 a year ago. Funds from operations attributable to the company's common stockholders -diluted, as adjusted were $184,952,000 or $2.59 per share compared to $167,583,000 or $2.36 per share for the same period a year ago. Diluted AFFO attributable to the company's common stockholders was $155,395,000 or $2.18 per share compared with $143,844,000 or $2.02 per share a year ago. FFO attributable to company’s common stockholders – basic and diluted were $184,762,000 or $2.59 per share compared with $167,583,000 or $2.36 per share a year ago. Net operating income, including share of unconsolidated joint ventures was $279.2 million, up $31.5 million, or 12.7%, compared to $247.7 million a year ago. For the year ending December 31, 2015, the company expects diluted earnings per share in the range of $1.44 to $1.50, FFO per diluted share in the range of $5.21 to $5.27, interest expense to be in the range of $106,000,000 to $116,000,000 and net cash provided by operating activities after dividends to be in the range of $115,000,000 to $135,000,000.

Alexandria Real Estate Equities, Inc. and Alexandria Real Estate Equities, L.P. Enter into Third Amended and Restated Term Loan Agreement

On June 30, 2015, Alexandria Real Estate Equities, Inc. and Alexandria Real Estate Equities, L.P. entered into a Third Amended and Restated Term Loan Agreement with Citibank, N.A., as administrative agent (Citibank), Citigroup Global Markets Inc., RBC Capital Markets, and The Bank of Nova Scotia, as joint lead arrangers and joint book running managers, and certain financial institutions party thereto as lenders (the Amended Term Loan Agreement). The Amended Term Loan Agreement amends and restates that certain Second Amended and Restated Term Loan Agreement, dated July 26, 2013, as amended on August 30, 2013, among the Company, Citibank, and certain financial institutions party thereto as lenders (the Prior Term Loan Agreement) to, among other things, decrease the applicable interest rate margins in respect of the loan there under (the Loan) and extend the maturity date of the loan originally provided under the Prior Term Loan Agreement from July 31, 2015 to June 30, 2019, subject to the company's sole option to extend the maturity date up to three times upon the satisfaction of certain conditions, for an additional term of six months for the first and second extensions and for an additional term ending January 15, 2021 for the third extension. The Company also repaid $25 million of principal in connection with the execution of the Amended Term Loan Agreement, reducing the outstanding principal balance of the Loan from $375 million to $350 million. Under the Amended Term Loan Agreement, the Loan will bear interest at a Eurodollar Rate or a Base Rate specified in the Amended Term Loan Agreement, plus, in either case, a margin specified in the Amended Term Loan Agreement. The margin at closing was 1.10% and was applied to the Eurodollar Rate.

 

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Industry Analysis

ARE

Industry Average

Valuation ARE Industry Range
Price/Earnings 100.0x
Price/Sales 8.1x
Price/Book 1.8x
Price/Cash Flow 19.5x
TEV/Sales 2.4x
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