Alexandria Real Estate posts Q4 net loss, reduces quarterly dividend by 45%

Overview

• Life science REIT reported Q4 2025 net loss per share of $6.35

• FFO per share, as adjusted, was $2.16 for Q4 2025

• Company reduced quarterly dividend by 45% to $0.72 per share

Outlook

• Alexandria projects 2026 adj FFO per share between $6.25 and $6.55

• Company targets 2026 occupancy in North America between 87.7% and 89.3%

• Alexandria expects 2026 rental rate changes from down 2.0% to up 6.0%

Result Drivers

• TENANT COLLECTIONS - Alexandria reported strong tenant collections with 99.9% of rents and receivables collected as of January 26, 2026

• COST REDUCTIONS - Co achieved a 30% reduction in general and administrative expenses in 2025, primarily from cost-control initiatives

• CAPITAL RECYCLING - Alexandria completed $1.47 bln of dispositions in 4Q25, exceeding its 2025 guidance midpoint

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Alexandria Real Estate Equities Inc is $60.00, about 0.5% above its January 23 closing price of $59.69

Press Release: ID:nPn8GzQC9a

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