Yahoo Finance
On August 3, Alexandria Real Estate Equities (NYSE:ARE) reported a Q2 2026 net loss of $0.43 per diluted share, narrower than the $0.64 loss posted a year earlier, while first-half net income swung to $1.68 per share from a loss of $0.71 in H1 2025.
Funds from operations, the metric real estate investors watch most closely, moved the other way.
Second-quarter FFO per share, as adjusted, fell to $1.73 from $2.33, and first-half FFO per share dropped to $3.46 from $4.63.
Leasing activity picked up meaningfully in the second quarter.
Alexandria signed 1,038,917 rentable square feet of leases in Q2 2026, a 60% jump from the first quarter and roughly 87,000 square feet above its trailing quarterly average.
Three-quarters of that leasing activity over the trailing twelve months came from existing tenants, and once executed leases with future occupancy are counted, total occupancy climbs to 90.9% from the reported 86.9%.
Tenant quality remains a selling point too: 80% of annual rental revenue comes from the company's Megacampus platform, and 57% comes from investment-grade or publicly traded large-cap tenants, with 99.9% of second-quarter rents and receivables collected as of August 3.
The balance sheet backs that stability up.
Alexandria holds $3.60 billion in liquidity and just extended its $5.0 billion unsecured line of credit to 2032 at a lower borrowing rate of SOFR plus 0.725%, down from SOFR plus 0.835%.
Only 6% of total debt matures through 2028, and the company's 9.7-year weighted-average remaining debt term is the longest among S&P 500 REITs.
General and administrative expenses fell 17.4% from Q2 2024, even after a year-over-year uptick, and the company maintained its $0.72 per share quarterly dividend, a 5.4% yield as of June 30.
The numbers behind the improved per-share figures are less reassuring on closer look.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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