Evercore ISI Adjusts PT on Alexandria Real Estate Equities to $59 From $57, Keeps Outperform Rating

Alexandria Real Estate Equities (ARE) executed a $5 billion unsecured revolving credit facility with maturities extended to 2032. The company's shares trade at $45.92, down 12.78% over 30 days and 37.66% over one year. Analysts suggest a fair value of $52.57, indicating a potential 13% undervaluation, but note challenges from an 86.9% occupied portfolio and recent property impairments.

Alexandria Real Estate Equities (ARE) secured a US$5 billion unsecured revolving credit line, extendable to US$6 billion, maturing by January 2032. The agreement modifies debt treatment and removes sustainability margin adjustments, impacting balance sheet management. Analysts forecast 2029 revenues of US$2.5 billion and earnings of US$278.8 million, with varying outlooks on asset recycling and leasing demand.

Alexandria Real Estate Equities (ARE), a mid-cap life science REIT, reported Q2 2026 adjusted FFO of $1.73 per share, beating estimates, but revenue fell 13% YoY to $662.78M. ARE stock is up 14.3% YTD but down 34.3% over 52 weeks, underperforming the XLRE ETF. Analysts have a 'Hold' consensus rating with a mean price target of $53.

Goldman Sachs raised its price target for Alexandria Real Estate Equities (ARE) to $59 from $54, maintaining a neutral rating. The stock has seen a 5-day change of 56.34 USD, a 1st Jan change of +5.27%, and a 15.12% increase over a longer period. The adjustments are based on various composite ratings, including valuation and EPS revisions.

A judge dismissed a class action lawsuit against Alexandria Real Estate Equities, alleging false statements about a Queens property. The case was dismissed without prejudice. Alexandria's stock is down 38% over the past year, trading at $52.82. The company faces potential $183M preconstruction cost issues for a Manhattan project.

Alexandria Real Estate Equities (ARE) reported a narrower Q2 2026 net loss of $0.43 per share, but FFO per share declined. Leasing activity improved, with 1.04 million sq. ft. signed, and occupancy reached 90.9%. The company has $3.6B in liquidity and extended its credit line. However, same-property NOI fell 10.6%, and rental rates declined. Net debt to EBITDA is 7.0x, above target.