NYSE$ARE
Alexandria Real Estate Equities Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Alexandria's financial and operating results for Q4 2020 were announced, showcasing strong performance.
Alexandria Real Estate Equities reported a strong fourth quarter, with net income per share of $3.26 and FFO per share of $1.84. The company highlighted its role in the life science ecosystem and its contribution to COVID-19 solutions. Key strategic transactions generated $874.6 million for reinvestment. Occupancy remained high, and the balance sheet remained strong with significant liquidity.
- Reported 4Q20 Net Income per Share – Diluted of $3.26 and 4Q20 FFO per Share – Diluted, As Adjusted, of $1.84.
- Investment-grade credit ratings ranked in the top 10% among all publicly traded REITs as of December 31, 2020.
- Liquidity of $4.1 billion as of December 31, 2020.
- Completed two strategic transactions generating $874.6 million for investment.
Headline financials
Revenue & EPS history
Alexandria · Revenue · Quarterly
$464M
Forward guidance
Alexandria provided guidance for 2021, including projected earnings per share, funds from operations per share, occupancy percentage, rental rate increases, and same property performance.
Tailwinds
- Earnings per share: $2.14 to $2.34
- Funds from operations per share: $7.60 to $7.80
- Occupancy percentage in North America as of December 31, 2021: 95.6% to 96.2%
- Rental rate increases: 29.0% to 32.0%
- Net debt and preferred stock to Adjusted EBITDA – 4Q21 annualized Less than or equal to 5.2x
Headwinds
- straight-line rent revenue: $114 to $124 million
- General and administrative expenses: $146 to $151 million
- Interest expense: $133 to $143 million
- Capitalization of interest: $167 to $177 million
- Net operating income increase: 1.0% to 3.0%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
-0.7%
Avg return
Earnings day
-0.6%
Avg return
5 days after
-0.2%
Avg return
30 days after
47%
32 / 68 earnings
Positive
+6.2%
Q3 2022
Best reaction
-19.2%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +3.3% | +1.8% | +23.1% | |
| Q1 2026 | -10.2% | -9.2% | +8.1% | |
| Q3 2025 | -19.2% | -25.2% | -31.2% | |
| Q1 2025 | -5.7% | -3.3% | -7.4% | |
| Q4 2024 | -4.8% | -4.7% | -1.1% | |
| Q3 2024 | -3.1% | -7.2% | -14.4% | |
| Q2 2024 | -3.0% | -5.0% | -7.5% | |
| Q1 2024 | +3.3% | +0.5% | +6.1% | |
| Q4 2023 | -2.5% | -2.3% | -2.4% | |
| Q3 2023 | +0.5% | -3.6% | +10.0% | |
| Q2 2023 | +0.4% | +2.7% | -4.8% | |
| Q1 2023 | -3.1% | -0.2% | -8.1% | |
| Q4 2022 | +0.0% | +4.4% | -11.1% | |
| Q3 2022 | +6.2% | +10.4% | +15.0% | |
| Q2 2022 | +4.2% | +10.4% | +6.1% | |
| Q1 2022 | -2.6% | -7.0% | -18.1% | |
| Q4 2021 | +3.0% | +0.6% | +0.0% | |
| Q3 2021 | +0.4% | -2.0% | +1.0% | |
| Q2 2021 | +1.9% | +2.2% | +3.5% | |
| Q1 2021 | -0.7% | +1.0% | -1.1% | |
| Q4 2020 | -0.4% | +2.7% | -4.6% | |
| Q3 2020 | -2.7% | -5.6% | +1.3% | |
| Q2 2020 | +3.1% | +5.3% | +1.1% | |
| Q1 2020 | +1.8% | +1.0% | +1.3% | |
| Q4 2019 | +2.8% | +2.7% | +0.1% | |
| Q3 2019 | -1.2% | +0.1% | +2.6% | |
| Q2 2019 | +3.2% | +1.0% | +2.8% | |
| Q1 2019 | -0.6% | -0.7% | +0.6% | |
| Q4 2018 | -0.7% | +1.3% | +5.3% | |
| Q3 2018 | +2.4% | -0.8% | +2.6% | |
| Q2 2018 | +4.0% | +4.0% | +4.5% | |
| Q1 2018 | +3.6% | +3.0% | +0.4% | |
| Q4 2017 | -0.6% | -1.9% | -4.1% | |
| Q3 2017 | +1.5% | +2.6% | +3.9% | |
| Q2 2017 | +0.5% | +0.2% | -0.8% | |
| Q1 2017 | +1.8% | +2.1% | +3.7% | |
| Q4 2016 | -1.7% | -1.9% | +4.8% | |
| Q3 2016 | +2.3% | -1.8% | +4.5% | |
| Q2 2016 | -2.5% | -0.8% | -2.0% | |
| Q1 2016 | +0.8% | — | — | |
| Q4 2015 | -3.7% | — | — | |
| Q3 2015 | +1.7% | — | — | |
| Q2 2015 | +0.1% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | -2.2% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | +3.1% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q2 2012 | +1.4% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2010 | -3.4% | — | — | |
| Q4 2011 | -3.4% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | -5.2% | — | — | |
| Q1 2010 | -5.5% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2008 | -4.5% | — | — | |
| Q3 2010 | -2.4% | — | — | |
| Q3 2009 | -2.4% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q2 2009 | -0.5% | — | — | |
| Q4 2009 | -0.5% | — | — |
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