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Dec 31, 2024
Alexandria Q4 2024 Earnings Report
Announced financial and operating results.
Key Takeaways
Alexandria Real Estate Equities, Inc. reported financial results for Q4 2024. FFO per Share – Diluted, as Adjusted, was $2.39 and net loss income per share was $(0.38).
Occupancy of operating properties in North America was 94.6%.
Rental rate increases on lease renewals and re-leasing of space were 18.1% and 3.3% (cash basis).
Common stock dividend declared for 4Q24 of $1.32 per common share.
Our 2024 capital plan included $1.4 billion in funding from strategic dispositions, of which $1.1 billion was completed during 4Q24.
Forward Guidance
The following guidance for 2025 has been updated to reflect our current view of existing market conditions and assumptions for the year ending December 31, 2025.
Positive Outlook
- Earnings per share(2) $2.57 to $2.77
- Depreciation and amortization of real estate assets 6.70
- Allocation to unvested restricted stock awards (0.04)
- Funds from operations per share and funds from operations per share, as adjusted(1) $9.23 to $9.43
- Midpoint $9.33
Challenges Ahead
- Occupancy percentage in North America as of December 31, 2025 91.6% to 93.2%
- Lease renewals and re-leasing of space: Rental rate changes 9.0% to 17.0%
- Rental rate changes (cash basis) 0.5% to 8.5%
- Net operating income (3.0)% to (1.0)%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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