Alexandria Q2 2022 Earnings Report
Key Takeaways
Alexandria Real Estate Equities reported a strong second quarter with total revenues increasing by 26.3% to $643.8 million. The company highlighted record rental rate increases and high leasing volume, alongside strategic dispositions and acquisitions. Alexandria also maintained a strong balance sheet with significant liquidity.
Total revenues increased by 26.3% compared to Q2 2021, reaching $643.8 million.
Rental rate increases were 45.4% and 33.9% (cash basis), representing the second-highest and highest quarterly increases in company history.
Executed 2,279,758 RSF of leasing activity, the third-highest quarter of leasing volume in company history.
Completed dispositions and sales of partial interest aggregating $548.7 million, demonstrating strong valuations.
Alexandria
Alexandria
Forward Guidance
Alexandria Real Estate Equities provided updated guidance for the year ending December 31, 2022, based on current market conditions. Key changes include a reduction in capital uses offset by construction spending and an increase in the midpoint of funds from operations per share, as adjusted.