Alexandria Real Estate Swings to $361.7M Net Income in Q1 2026

Alexandria Real Estate Equities (NYSE: ARE), a life science real estate investment trust, reported net income of $361.7 million for the three months ending March 31, 2026, reversing a $8.9 million loss in the same period last year. Diluted earnings per share reached $2.10, up sharply from a loss of $0.07 per share in the first quarter of 2025. Read more earnings reports.

Operating income for the quarter declined 16% to $413.1 million from $493.3 million in the year-ago period. The company's interest expense rose 27% to $64.6 million from $50.9 million, reflecting increased borrowing costs.

Cash generated from operations totaled $196.6 million, down from $207.9 million in the first quarter of 2025. The company deployed $584.8 million in investing activities during the quarter, primarily for property acquisitions and development, compared with $654.8 million in the prior-year period. Financing activities generated $258.0 million in cash, down from $370.8 million a year earlier.

Total assets stood at $34.17 billion as of March 31, 2026, up modestly from $34.08 billion at year-end 2025. Cash and cash equivalents declined to $418.7 million from $549.1 million at December 31, 2025. The company held long-term debt of $12.52 billion as of the end of the quarter.

Stockholders' equity increased to $15.73 billion from $15.47 billion at the close of 2025. Common shares outstanding totaled 170.7 million at quarter-end, up slightly from 170.5 million three months earlier.

Depreciation and amortization for the quarter came to $305.4 million, down from $342.1 million in the first quarter of 2025.