Alexandria Real Estate Equities, Inc. reports news as a life science real estate investment trust that owns, operates and develops collaborative Megacampus™ ecosystems in major life science innovation clusters. Company updates commonly cover operating results, funds from operations, leasing activity, rental-rate trends and property-market demand across locations such as Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City.
Recurring announcements also include quarterly common stock dividends, balance-sheet and liquidity commentary, capital recycling activity, senior note offerings, cash tender offers for outstanding debt and corporate governance or leadership matters tied to the REIT’s public-company structure.
Alexandria Real Estate Equities (NYSE: ARE) has released its 2023 Corporate Responsibility Report.
Key highlights include:
The completion of a large-scale solar farm, supplying renewable power to meet 100% of the electricity load for Alexandria's Greater Boston region through a long-term power purchase agreement.
Celebrating the opening of Moderna's new HQ and R&D center in Cambridge, designed to be ultra-efficient and targeting LEED Zero Energy and LEED Platinum certifications.
Setting a new target to reduce operational GHG emissions intensity by 30% by 2030 from a 2022 baseline.
Achieving multiple sustainability milestones, such as outperforming a CRREM-aligned emissions reduction pathway and earning several accolades in the 2023 GRESB Real Estate Assessment.
The full report, developed in accordance with Global Reporting Initiative Standards and verified by DNV Business Assurance USA, Inc., is available on Alexandria's Corporate Responsibility page.
Alexandria Real Estate Equities (NYSE: ARE) announced a 10-year lease agreement with a top 20 pharmaceutical company for a new R&D center at their SD Tech mega campus in San Diego. The lease covers 127,382 RSF, expanding the tenant's footprint by 53% and including significant expansion options. This deal brings Alexandria's 253,079 RSF Class A+ development to 70% leased ahead of its 2025 delivery. Alexandria's San Diego projects are now 94% leased, showcasing the strength of its mega campus platform. The company, a pioneer in life science real estate, has been active in San Diego since 1994, with 14.3 million RSF in assets and a 95.2% occupancy rate in its operational properties.
Alexandria Real Estate Equities (NYSE: ARE) announced a quarterly cash dividend of $1.30 per share for Q2 2024, a 3-cent increase from Q1 2024. This contributes to a 12-month dividend ending June 30, 2024, of $5.08 per share, up 24 cents or 5% from the previous year. The dividend will be payable on July 15, 2024, to shareholders of record on June 28, 2024. The company retains significant cash for reinvestment in new high-quality Class A/A+ projects. Over the five-year period ending December 31, 2024, Alexandria expects to reinvest $2.1 billion from net cash provided by operating activities. The dividend payout ratio remains low at 54% for Q1 2024, supporting further dividend growth while maintaining financial stability.
On May 21, 2024, Alexandria Real Estate Equities (NYSE: ARE) announced a conference call and webcast scheduled for July 23, 2024, at 3:00 p.m. Eastern Time (ET) to discuss its second quarter 2024 operating and financial results. The results will be released on July 22, 2024, after market close. Interested parties can join the call by dialing (833) 366-1125 (U.S.) or (412) 902-6738. A live audio webcast will be accessible on the company's website. A replay will be available from 5:00 p.m. ET on July 23, 2024, until 5:00 p.m. ET on July 30, 2024, via (877) 344-7529 (U.S.) or (412) 317-0088, using access code 8478776.
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