OakChart

Alexandria Real Estate Equities Inc

AREReal Estate·REIT - Office·USA·Mid·NYSE·Nov 11 • 10:35 AM ET

43.70-1.00 (-2.24%)
2026-11-11 16:36 CET
Market cap
7,785.00 USD m
Revenue, TTM
2,759.40 USD m
Net income, TTM
-1,435.11 USD m
Free cash flow, TTM
1,187.79 USD m
EPS diluted, TTM
-8.42
P/E
-
Compare

Price

ARE against its 20, 50 and 200-day averages
2050200miss
40.0045.0050.0055.0060.002.8M5.6MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26AREclose 43.7020-day 42.8050-day 46.80200-day 49.0043.7052w high52w low

26.9% under the 52-week high of 59.76 on 23 Jan 2026. 52-week low 38.34 on 28 Oct 2026. Last 15 sessions, 24.9% high to low

Profile

ARE
52-week range, 25% of the way up
38.3459.76

Alexandria Real Estate Equities, Inc. engages in the provision of space for lease. It offers properties for rent to life science, agriculture technology (agtech), and technology tenants. The company was founded by Alan D. Gold, Gary A. Kreitzer, Joel S. Marcus, and Jerry M. Sudarsky in October 1994 and is headquartered in Pasadena, CA.

IndexS&P 500, RUI
Employees514
IPOMay 23, 1997
Beta1.16
ATR, 14d1.88
Rel volume0.29
Short float3.83%
Insider own2.38%
Inst own100.22%

Snapshot

6 groups

Valuation

IndexS&P 500, RUI
Market Cap7.61B
Enterprise Value24.07B
Income-1.44B
Sales2.76B
Book/sh86.67
Cash/sh2.95
Dividend Est.2.88 (6.59%)
Dividend TTM2.88 (6.59%)
Dividend Ex-DateSep 30, 2026
Dividend Gr. 3/5Y-0.28% 1.99%
Payout-
Employees514
IPOMay 23, 1997

Ratios

P/E-
Forward P/E-
PEG-
P/S2.76
P/B0.50
P/C14.81
P/FCF6.41
EV/EBITDA12.23
EV/Sales8.72
Quick Ratio1.65
Current Ratio1.65
Debt/Eq0.90
LT Debt/Eq0.88
Option/ShortYes / Yes

Earnings

EPS (ttm)-8.42
EPS next Y-0.88
EPS next Q-0.11
EPS this Y100.59%
EPS next Y-1853.66%
EPS next 5Y49.32%
EPS past 3/5Y- -
Sales past 3/5Y5.34% 9.93%
EPS Y/Y TTM-240.78%
Sales Y/Y TTM-9.86%
EPS Q/Q-170.85%
Sales Q/Q-10.74%
EarningsOct 26 AMC
EPS/Sales Surpr.-13401.81% 3.38%

Ownership

Insider Own2.38%
Insider Trans-0.45%
Inst Own100.22%
Inst Trans3.66%
ROA-4.02%
ROE-9.13%
ROIC-5.16%
Gross Margin22.87%
Oper. Margin26.54%
Profit Margin-52.01%
SMA202.11%
SMA50-6.62%
SMA200-10.82%
Trades-

Technical

Shs Outstand170.85M
Shs Float170.02M
Short Float3.83%
Short Ratio2.91
Short Interest6.51M
52W High59.76 -26.87%
52W Low38.34 13.98%
Volatility4.61% 4.41%
ATR (14)1.88
RSI (14)47.91
Beta1.16
Rel Volume0.29
Avg Volume2.24M
Volume137,229

Performance

Perf Week-5.00%
Perf Month-0.27%
Perf Quarter-9.75%
Perf Half Y-7.55%
Perf YTD-10.71%
Perf Year-20.33%
Perf 3Y-54.32%
Perf 5Y-78.38%
Perf 10Y-57.46%
Recom3.29
Target Price49.93
Prev Close44.70
Price43.70
Change %-2.24%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Oct 12, 2026DowngradeBBMO Capital MarketsMarket Perform → Underperform$41-6.2%
Sep 24, 2026DowngradeJJP MorganNeutral → Underweight$56+28.1%
Jun 11, 2026DowngradeMMorgan StanleyEqual-Weight → Underweight$53+21.3%
May 04, 2026DowngradeRRobert W. BairdOutperform → Neutral$46+5.3%
Mar 25, 2026DowngradeBBMO Capital MarketsOutperform → Market Perform$52+19.0%
Feb 03, 2026InitiatedGGoldmanNeutral$60+37.3%
Jan 09, 2026InitiatedMMorgan StanleyEqual-Weight
Nov 13, 2025DowngradeCCitizens JMPMkt Outperform → Mkt Perform
Oct 29, 2025DowngradeBBTIG ResearchBuy → Neutral
Oct 06, 2025InitiatedJJefferiesHold$80+83.1%

Peers

Mkt cap
TickerCompanyMkt cap
BXPBXP Inc11.21B
DOCHealthpeak Properties Inc14.30B
KRCKilroy Realty Corp4.18B
CUZCousins Properties Inc4.82B
VNOVornado Realty Trust7.17B
HIWHighwoods Properties Inc3.41B
SLGSL Green Realty Corp3.78B
VTRVentas Inc48.80B
HPPHudson Pacific Properties Inc487.08M
DEIDouglas Emmett Inc1.68B

Insider trading

latest 14 of 19
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Fukuzaki-Carlson KristinaEVP - Business OperationsSep 11 '26Sale50.5116,810849,07339,152Sep 15 04:44 PM
MARCUS JOEL SExecutive ChairmanSep 11 '26Buy49.685,000248,400597,724Sep 15 04:44 PM
Fukuzaki-Carlson KristinaOfficerSep 11 '26Proposed Sale50.5116,810849,125Sep 11 04:44 PM
Gavinet AndresChief Accounting OfficerAug 31 '26Sale50.9310,000509,300102,516Sep 02 04:13 PM
Gavinet AndresOfficerAug 31 '26Proposed Sale50.9310,000509,341Aug 31 11:57 AM
MARCUS JOEL SExecutive ChairmanAug 17 '26Buy46.285,000231,400592,724Aug 19 04:37 PM
Binda Marc ECFO & TreasurerJun 09 '26Sale54.002,000108,000188,264Jun 11 04:47 PM
Binda Marc EOfficerJun 09 '26Proposed Sale54.002,000108,000Jun 09 03:01 PM
MARCUS JOEL SExecutive ChairmanMay 06 '26Buy46.347,500347,558587,724May 07 04:32 PM
MARCUS JOEL SExecutive ChairmanMay 05 '26Buy42.727,500320,416580,224May 06 04:48 PM
MARCUS JOEL SExecutive ChairmanMay 04 '26Buy41.0210,000410,200572,724May 05 04:32 PM
Thomas Gregory CalvinEVP - CTOApr 30 '26Buy41.003,500143,50033,024May 04 04:33 PM
Kuhn Hallie E.EVP - Cap Market & Co-Lead -LSApr 17 '26Sale48.2053625,83548,301Apr 21 04:23 PM
Kuhn Hallie E.OfficerApr 17 '26Proposed Sale48.2053625,835Apr 17 10:30 AM

Held by

AUM
TickerCompanyAUM
VNQVanguard Real Estate Index Fund ETFAUM: 38.99B
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VOOVanguard S&P 500 ETFAUM: 1054.75B
VBVanguard Morningstar Small-Cap ETFAUM: 79.59B
RSPInvesco S&P 500 Equal Weight ETFAUM: 104.94B
VBRVanguard Morningstar Small-Cap Value ETFAUM: 37.76B
IVViShares Core S&P 500 ETFAUM: 871.38B
SPYDState Street SPDR Portfolio S&P 500 High Dividend ETFAUM: 7.79B
SPYSPDR S&P 500 ETF TrustAUM: 793.23B
XLREState Street Real Estate Select Sector SPDR ETFAUM: 8.46B

News

latest 14 of 206
  • Looking for income? These dividend stocks have high yields that seem well supported. (MarketWatch)
  • Alexandria Real Estate Equities, Inc. Celebrates 20 Years of Prix Galien USA and More than Two Decades of Investing in and Catalyzing Life Science Innovation in New York City (PR Newswire)
  • KKR Invests $475 Million in Alexandria Real Estate Equities' Campus Point (Business Wire)
  • Alexandria Sells Stakes In Megacampuses To Weather Life Sciences Downturn (Bisnow) -5.85%
  • Alexandria Edges FFO Estimates As Leasing Rebounds, But Heavy Impairments And A 2027 Trough Keep The Recovery Story Unproven (Earnings Whispers)
  • Loading…
  • Alexandria Real Estate Equities Inc. stock underperforms Tuesday when compared to competitors (MarketWatch)
  • Alexandria Real Estate Equities: Q3 Earnings Snapshot (Associated Press)
  • Alexandria Real Estate Equities, Inc. Reports 3Q26 and YTD 3Q26 Net Loss per Share - Diluted of $3.74 and $2.06, respectively, and 3Q26 and YTD 3Q26 FFO per Share - Diluted, as Adjusted, of $1.54 and $5.00, respectively (PR Newswire)
  • Alexandria Real Estate Equities Inc. stock outperforms competitors on strong trading day (MarketWatch)
  • Alexandria Real Estate Equities Inc. stock underperforms Wednesday when compared to competitors (MarketWatch) -5.29%
  • Alexandria Real Estate Equities, Inc. Announces Closing of Amended and Restated $5.0 Billion Unsecured Senior Line of Credit (PR Newswire)
  • Alexandria Real Estate Equities Inc. stock underperforms Wednesday when compared to competitors (MarketWatch)
  • Alexandria Real Estate Equities Inc. stock outperforms competitors on strong trading day (MarketWatch) +5.27% -5.40%

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-10-26-3.740-0.028-3.740671.18649.236
2026Q22026-08-03-0.4300.094-0.432643.21464.864
2026Q12026-04-272.1000.1452.100653.01684.784
2025Q42026-01-26-6.3500.281-6.349728.87738.966
2025Q32025-10-27-1.3800.496-1.381735.85751.635
2025Q22025-07-21-0.6400.590-0.644737.28745.293
2025Q12025-04-280.3200.697-0.068743.18747.83
2024Q42025-01-27-0.3800.922-0.377763.25774.764
2024Q32024-10-210.9600.8840.957775.74766.974
2024Q22024-07-220.2500.8720.250755.16775.034
2024Q12024-04-220.8900.8670.971755.55764.375
2023Q42024-01-29-0.5400.593-0.537742.647445
2023Q32023-10-230.1301.1430.128707.53720.814
2023Q22023-07-240.5100.3880.511704.34700.222
2023Q12023-04-240.8300.6710.441687.95678.192
2022Q42023-01-300.4900.6080.313665.67633.142

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2018FY3.5204.3393.5231,0111,012
2019FY3.1201.9003.1191,5171,159
2020FY6.0103.1976.0151,8781,869
2021FY3.8203.9543.8212,1082,085
2022FY2.6703.5033.1752,5762,346
2023FY0.5401.6730.5412,8422,862
2024FY1.8003.1001.7993,0503,085
2025FY-8.440-1.811-8.4402,9452,459
2026FY-0.050--2,648
2027FY--0.878--2,489
2028FY--1.099--2,522
2029FY--1.500--2,406

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-07921639.88575.74679.5
2026Q4S2026-11-04931639.88575.74679.5
2026Q4S2026-11-03941639.88575.74679.5
2026Q4S2026-10-28941639.34575.74679.5
2026Q4S2026-10-27931638.17575.74679.5
2026Q4S2026-10-26831636.75575.74679.5
2026Q4S2026-10-22931638.17575.74679.5
2026Q4S2026-10-21821633575.74656.79
2026Q4S2026-10-19721630.01575.74656.79
2026Q4S2026-10-09621628.4575.74656.79
2026Q4S2026-09-29621628.4575.74656.79
2026Q4S2026-09-28622628.4575.74656.79
2026Q4S2026-09-25622629.5575.74656.79
2026Q4S2026-09-23622629.29575.74656.79

Estimate history

EPS, annual1.5793.5233.1196.0153.8213.1750.5411.799-8.444-8.4195
Period201720182019202020212022202320242025TTM
EPS, quarterly0.957-0.377-0.068-0.644-1.381-6.3492.1-0.432-3.739
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual1128.0971327.4591531.2961885.6372114.152588.9622885.6993116.3943026.5562759.4
Period201720182019202020212022202320242025TTM
Sales, quarterly791.607788.945758.158762.04751.944754.414671.022662.784671.182
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual99.784111.012120.8136.69158.044170.748171.911172.203170.538170.849
Period201720182019202020212022202320242025MRQ
Shares, quarterly172.244172.203170.13170.146170.339170.538170.712170.729170.849
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue2,759.403,026.563,116.392,885.702,588.962,114.151,885.641,531.301,327.46
Total Expenses2,027.032,363.152,392.252,353.482,374.771,552.44987.641,022.55940.83
Operating Income732.37663.41724.14532.22214.19561.71898.00508.75386.63
Unusual Expense2,219.952,202.93223.07461.1168.29119.93108.7559.907.43
Net Income Before Taxes-1,234.88-1,216.73510.7385.60338.94913.761,076.88687.26605.78
Income Taxes0.000.000.000.000.000.000.000.000.00
Consolidated Net Income-1,240.30-1,225.14497.34269.80662.31646.431,066.71680.87599.75
Net Income From Continuing Operations-1,435.11-1,437.99309.5692.44513.27563.401,010.50639.99576.27
Net Income-1,435.11-1,437.99309.5692.44513.27563.401,010.50634.21566.97
EPS (Recurring)0.700.612.712.433.474.396.623.493.57
EPS (Basic, Before Extraordinaries)-8.42-8.441.800.543.173.836.033.133.53
EPS (Diluted)-8.42-8.441.800.543.173.826.013.123.52
Non-Operating Income (Expense)526.98549.49195.5088.70287.24614.15630.85238.41226.58
Other After Tax Adjustments-5.42-8.42-13.39-11.20-8.39-7.85-10.17-6.39-6.03
Stock Option Compensation Expense41.3641.1259.6382.8657.7448.6743.5043.6435.02
Price To Earnings Ratio--59.4991.0444.2158.8330.4552.2932.79
Price To Sales Ratio2.942.755.397.519.1015.5511.9611.878.97
Gross Margin22.8724.9032.2432.3331.0431.6734.8929.7828.43
Operating Margin26.5421.9223.2418.448.2726.5747.6233.2229.13
Net Margin-52.01-47.519.933.2019.8326.6553.5941.4242.71
Shares Outstanding170.85170.54172.20171.91170.75158.04136.69120.80111.01
Market Capitalization7,785.007,785.0017,048.0322,029.4623,902.5534,550.7724,049.7218,606.1012,391.41

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue671.18662.78671.02754.41751.94762.04758.16788.95
Total Expenses551.70416.65574.60484.08590.17621.62667.28683.05
Operating Income119.48246.1496.42270.34161.77140.4290.88105.90
Unusual Expense641.23222.47-360.941,717.19323.98129.6132.15186.56
Net Income Before Taxes-598.93-38.97398.38-995.35-197.84-62.1938.66-16.09
Income Taxes0.000.000.000.000.000.000.000.00
Consolidated Net Income-599.70-39.88395.60-996.32-200.03-64.8036.00-18.77
Net Income From Continuing Operations-638.45-73.69358.87-1,081.84-234.94-109.61-11.60-64.92
Net Income-638.45-73.69358.87-1,081.84-234.94-109.61-11.60-64.92
EPS (Recurring)-1.110.480.620.71-0.05-0.110.060.38
EPS (Basic, Before Extraordinaries)-3.74-0.432.10-6.35-1.38-0.64-0.07-0.38
EPS (Diluted)-3.74-0.432.10-6.35-1.38-0.64-0.07-0.38
Non-Operating Income (Expense)2.501.715.60517.1719.21-17.7030.81120.23
Other After Tax Adjustments-0.77-0.91-2.78-0.96-2.18-2.61-2.66-2.68
Stock Option Compensation Expense11.9510.1511.038.2310.2912.5310.0612.48
Price To Earnings Ratio-----95.3551.3959.49
Price To Sales Ratio2.943.182.702.764.633.995.085.39
Gross Margin20.6822.7921.0826.4922.9425.1325.0227.68
Operating Margin17.8037.1414.3735.8321.5118.4311.9913.42
Net Margin-95.12-11.1253.48-143.40-31.24-14.38-1.53-8.23
Shares Outstanding170.85170.73170.71170.54170.34170.15170.13172.20
Market Capitalization7,785.009,210.128,044.598,458.0614,414.4012,564.1916,012.7417,048.03

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments553.75559.85660.77857.98415.23597.71242.69272.13277.19
Short Term Receivables264.70126.9524.0527.4920.4710.7611.1310.3310.88
Investments29,892.8533,442.3033,047.6331,534.4126,856.3019,741.3316,024.5512,847.7110,451.17
Investment in Unconsolidated Affiliates388.06226.10113.28103.89110.07332.35346.89237.51524.36
Net Property, Plant & Equipment898.44945.30687.80729.97652.10520.66462.0395.8143.14
Other Intangible Assets2,084.032,226.942,237.882,269.662,165.201,625.081,303.221,001.47797.22
Total Assets34,081.8337,527.4536,771.4035,523.4030,219.3722,827.8818,390.5014,464.9612,103.95
Total Debt12,894.1314,781.8312,020.5710,984.129,568.208,197.117,244.065,613.064,852.99
Long Term Debt12,221.5612,931.9112,020.5310,634.089,564.608,193.697,237.645,613.064,845.70
Provision for Risks Charges34.3453.9753.0852.7259.8047.0714.0410.347.40
Other Liabilities1,996.93293.192,074.761,803.311,558.131,139.92965.93946.84760.40
Total Liabilities14,925.4015,128.9914,148.4112,840.1511,186.129,384.108,224.026,570.245,620.78
Preferred Stock - Carrying Value0.000.000.000.000.000.000.0064.3474.39
Common Equity15,470.0717,889.0418,471.1718,972.3916,189.5411,725.718,865.837,277.635,875.28
Total Shareholders Equity15,470.0717,889.0418,471.1718,972.3916,189.5411,725.718,865.837,341.975,949.67
Accumulated Minority Interest3,686.374,509.424,151.823,710.862,843.711,718.071,300.65552.75533.50
Total Equity19,156.4422,398.4622,622.9922,683.2519,033.2513,443.7810,166.487,894.716,483.17
Total Liabilities & Stockholders Equity34,081.8337,527.4536,771.4035,523.4030,219.3722,827.8818,390.5014,464.9612,103.95
Book Value Per Share90.71103.88107.45111.11102.4485.7873.3965.5658.88
Tangible Book Value Per Share89.52102.11104.76107.5198.5882.4071.0664.2058.10
Full-Time Employees514552568593559470439386323
Price to Book Ratio0.520.921.161.342.182.082.201.762.31
Return on Assets-4.020.830.261.562.124.903.904.340.32
Return on Equity-8.621.700.492.924.049.817.908.670.66
Return on Invested Capital-5.191.000.301.732.195.073.974.450.33
Quick Ratio1.052.983.091.582.323.921.912.562.90
Current Ratio1.052.983.091.582.323.921.912.562.90

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Funds from Operations1,451.141,711.891,704.981,628.521,417.031,105.46952.89721.02625.93
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-263.35-297.85-200.462.03-122.70-95.27-70.38-37.16-55.59
Cash from Operating Activities1,187.791,414.051,504.521,630.551,294.321,010.20882.51683.86570.34
Capital Expenditures0.000.000.000.000.000.000.000.000.00
Net Assets From Acquisitions0.000.000.000.000.000.000.000.000.00
Sale of Fixed Assets and Businesses69.93165.49306.47547.391,542.352,026.49367.611,022.7128.27
Purchase or Sale of Investments633.70362.10-1,510.69-2,500.62-5,080.46-7,107.32-3,278.16-3,641.32-2,161.76
Purchase of Investments-1,914.09-2,128.35-2,911.61-3,879.76-6,429.55-8,117.48-4,193.96-3,795.28-2,354.22
Sale Or Maturity of Investments2,547.792,490.441,400.911,379.141,349.091,010.15915.80153.97192.46
Other Uses0.000.000.000.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.000.000.000.00
Cash from Investing Activities703.63527.59-1,204.22-1,953.23-3,538.11-5,080.84-2,910.55-2,618.61-2,133.49
Cash Dividends Paid-598.46-911.45-898.56-847.48-757.74-655.97-532.98-451.17-385.84
Change in Capital Stock0.00-208.19-23.00103.852,346.443,529.102,315.861,207.201,279.33
Repurchase of Common Pref Stock0.00-208.19-50.110.000.000.000.00-9.24-13.98
Sale of Common Pref Stock0.000.0027.10103.852,346.443,529.102,315.861,216.441,293.30
Proceedsfrom Stock Options0.000.0027.10103.852,346.443,529.102,315.861,216.441,293.30
Issuance or Reduction of Debt, Net-378.95146.54892.821,140.091,536.491,236.80797.241,263.79698.92
Change in Long Term Debt78.60-206.96992.821,040.091,806.491,066.80697.241,263.79698.92
Issuance of Long Term Debt2,389.701,247.26992.852,285.112,988.425,255.784,365.347,749.995,638.81
Reduction of Long Term Debt-2,311.09-1,454.21-0.03-1,245.03-1,181.93-4,188.98-3,668.10-6,486.20-4,939.89
Net Financing Active Other Cash Flow-986.10-976.19-371.05-269.68-437.76-220.06-110.13-115.05-32.25
Other Financing Activities Uses-189.04-24.41-62.41-24.59-245.59-101.17-21.32-66.830.00
Cash from Financing Activities-1,963.51-1,949.28-399.79126.772,687.433,889.882,382.741,904.771,560.16
Exchange Rate Effect1.681.56-1.44-1.29-0.89-1.710.310.54-2.07
Net Change in Cash-70.42-6.09-100.92-197.20442.75-182.48355.02-29.44-5.06
Free Cash Flow1,187.791,414.051,504.521,630.551,294.321,010.20882.51683.86570.34
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.00-4.14-5.21
Price to Free Cash Flow13.7516.5827.7027.6743.8992.8164.5078.1464.54

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments513.76475.14423.38553.75584.18527.95
Short Term Receivables282.98277.40267.53264.70226.87223.03
Investments29,831.9230,480.4330,060.5129,892.8532,973.9833,378.92
Investment in Unconsolidated Affiliates422.97426.36398.40388.06366.05317.01
Net Property, Plant & Equipment891.36894.29903.21898.44907.77903.41
Other Intangible Assets2,108.742,078.622,114.362,084.032,316.312,273.31
Total Assets34,051.7234,632.2334,167.4034,081.8337,375.1537,623.63
Total Debt13,360.5813,285.7813,005.3012,894.1314,101.0413,810.81
Long Term Debt13,005.5912,925.8012,638.1012,221.5614,095.6513,800.03
Provision for Risks Charges29.7034.1534.2734.3445.4945.56
Other Liabilities2,243.142,136.941,764.091,996.932,110.342,028.26
Total Liabilities15,633.4115,456.8714,803.6614,925.4016,256.8715,884.63
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity14,807.2015,553.9815,734.0915,470.0716,639.3017,175.24
Total Shareholders Equity14,807.2015,553.9815,734.0915,470.0716,639.3017,175.24
Accumulated Minority Interest3,611.113,621.383,629.653,686.374,478.984,563.77
Total Equity18,418.3119,175.3619,363.7419,156.4421,118.2821,739.00
Total Liabilities & Stockholders Equity34,051.7234,632.2334,167.4034,081.8337,375.1537,623.63
Book Value Per Share86.6791.1092.1790.7197.68100.94
Tangible Book Value Per Share85.7490.0691.0689.5296.3099.44
Full-Time Employees---514--
Price to Book Ratio0.520.570.510.500.830.71
Return on Assets-4.02-2.86-2.97-4.02-1.11-0.06
Return on Equity-9.13-6.30-6.43-8.62-2.42-0.12
Return on Invested Capital-2.30-0.261.26-3.91-0.76-0.35
Quick Ratio1.651.571.441.053.523.27
Current Ratio1.651.571.441.053.523.27

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Funds from Operations329.08360.24340.15421.66418.94443.05
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital12.73-23.28-143.52-109.2814.5417.19
Cash from Operating Activities341.82336.97196.62312.38433.48460.24
Capital Expenditures0.000.000.000.000.000.00
Net Assets From Acquisitions0.000.000.000.000.000.00
Sale of Fixed Assets and Businesses8.979.5718.0733.3336.1141.65
Purchase or Sale of Investments-171.39-409.74-584.811,799.63-407.88-374.87
Purchase of Investments-450.30-457.69-619.92-386.18-521.35-485.16
Sale Or Maturity of Investments278.9147.9635.112,185.81113.47110.29
Other Uses0.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.00
Cash from Investing Activities-162.43-400.17-566.751,832.96-371.78-333.23
Cash Dividends Paid-123.83-123.84-123.75-227.03-227.20-227.23
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock0.000.000.000.000.000.00
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock0.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.00
Issuance or Reduction of Debt, Net46.51291.59479.45-1,196.50295.89203.21
Change in Long Term Debt950.92-350.00-522.320.00-154.11-596.79
Issuance of Long Term Debt950.920.00738.78700.000.103.21
Reduction of Long Term Debt0.00-350.00-1,261.10-700.00-154.21-600.00
Net Financing Active Other Cash Flow-63.54-52.36-115.76-754.44-74.04-58.30
Other Financing Activities Uses-63.54-52.24-66.06-7.20-10.94-0.71
Cash from Financing Activities-140.87115.39239.94-2,177.97-5.36-82.32
Exchange Rate Effect0.10-0.44-0.192.21-0.11-0.50
Net Change in Cash38.6251.75-130.37-30.4256.2344.19
Free Cash Flow341.82336.97196.62312.38433.48460.24
Price to Free Cash Flow13.7515.6213.2716.5930.5524.33

Revenue breakdown

Income from rentals2024: 3.05B 2025: 2.95B
Other2024: 66.69M 2025: 81.38M
United States2024: 3.12B 2025: 3.03B
Other Operating2024: 188.84M 2025: 191.27M
Reportable2024: 2.93B 2025: 2.84B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-303.83%6.5M170.0M2.22M
2026-10-154.27%7.3M170.1M1.97M
2026-09-304.63%7.9M170.1M1.86M
2026-09-153.97%6.8M170.1M1.83M
2026-08-314.29%7.3M170.1M1.97M
2026-08-144.00%6.8M170.1M1.85M
2026-07-314.04%6.9M170.5M1.90M
2026-07-154.59%7.8M170.4M2.09M
2026-06-304.44%7.6M170.4M2.27M
2026-06-153.51%6.0M170.0M2.31M
2026-05-294.12%7.0M170.4M2.25M
2026-05-154.28%7.3M170.4M2.43M
2026-04-304.38%7.5M170.5M2.43M
2026-04-154.37%7.4M169.6M2.56M
2026-03-313.95%6.7M169.7M2.52M
2026-03-133.81%6.5M169.7M2.60M
2026-02-274.53%7.7M169.7M2.87M
2026-02-134.85%8.2M169.7M2.82M
2026-01-305.39%9.2M170.6M2.93M
2026-01-155.49%9.4M170.2M2.95M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call30.0013.1015.800.003.1010.000.000.955-0.0480.006
call32.5010.9013.400.002.7120.000.000.907-0.0920.011
call35.007.7011.008.002.33514.000.000.887-0.0850.013
call37.506.208.107.501.73781.000.000.858-0.0770.015
call40.004.006.305.001.63193.000.000.767-0.0920.021
call42.501.652.954.200.8663700.000.625-0.0850.026
call45.000.652.001.350.9446050.000.445-0.1390.027
call47.500.200.850.800.8026290.000.265-0.0970.023
call50.000.000.400.200.7923690.000.150-0.0690.016
call52.500.000.350.350.9702350.000.128-0.0760.014
call55.000.000.100.100.9312140.000.099-0.0600.013
call57.500.000.750.240.95474.000.000.040-0.0310.006
call60.000.000.950.051.07466.000.000.036-0.0320.005
call62.500.002.150.071.18370.000.000.033-0.0330.005
call65.000.000.050.051.05726.000.000.019-0.0180.003
call70.000.000.050.261.22818.000.000.017-0.0190.003
call75.000.002.100.051.5002.000.000.015-0.0210.003
put30.000.000.200.081.49232.000.00-0.044-0.0520.006
put32.500.002.150.051.5431100.00-0.091-0.0960.011
put35.000.001.000.051.2419050.00-0.111-0.0890.013
put37.500.000.500.050.9595280.00-0.139-0.0810.015
put40.000.000.650.100.7391,7720.00-0.232-0.0950.021
put42.500.500.750.510.4511,1300.00-0.377-0.0890.026
put45.000.203.301.000.9129610.00-0.555-0.1410.027
put47.502.004.303.300.5841110.00-0.733-0.1000.023
put50.004.306.505.100.6331960.00-0.848-0.0710.016
put52.506.408.9012.150.4010.000.00-0.881-0.0720.014
put55.008.9011.4013.190.5390.000.00-0.954-0.0310.006
put57.5011.5013.9010.060.6620.000.00-0.959-0.0320.006
put60.0013.9017.8015.121.9520.000.00-0.962-0.0330.005
put62.5016.4020.000.002.0490.000.00-0.965-0.0340.005
put65.0018.9022.5017.082.1910.000.00-0.980-0.0200.003
put70.0023.9027.900.002.5700.000.00-0.982-0.0210.003
put75.0028.9032.500.002.6830.000.00-0.984-0.0210.003

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-034Statement of changes in beneficial ownership of securities2026-10-30SEC
2026-11-034Statement of changes in beneficial ownership of securities2026-10-30SEC
2026-10-268-KCurrent report2026-10-26SEC
2026-10-2610-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-194Statement of changes in beneficial ownership of securities2026-10-15SEC
2026-10-194Statement of changes in beneficial ownership of securities2026-10-15SEC
2026-10-194Statement of changes in beneficial ownership of securities2026-10-15SEC
2026-10-194Statement of changes in beneficial ownership of securities2026-10-15SEC
2026-10-194Statement of changes in beneficial ownership of securities2026-10-15SEC
2026-10-024Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-024Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-09-248-KCurrent report2026-09-24SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-174Statement of changes in beneficial ownership of securities2026-09-15SEC
2026-09-154Statement of changes in beneficial ownership of securities2026-09-11SEC
2026-09-154Statement of changes in beneficial ownership of securities2026-09-11SEC
2026-09-11144Filing for proposed sale of securities under Rule 144.SEC
2026-09-024Statement of changes in beneficial ownership of securities2026-08-31SEC
2026-09-024Statement of changes in beneficial ownership of securities2026-08-31SEC
2026-08-31144Filing for proposed sale of securities under Rule 144.SEC
2026-08-218-KCurrent report2026-08-21SEC
2026-08-194Statement of changes in beneficial ownership of securities2026-08-17SEC
2026-08-12FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-08-10424B5SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-09248.40K1849.07K1
2026-08231.40K1509.30K1
2026-070000
2026-0600108.00K1
2026-051.08M300
2026-04143.50K125.84K1
2026-030000
2026-021.35M100
2026-010000
2025-12141.36K1160.88K1
2025-110000

Institutional holders

Manager% owned
BlackRock, Inc.12.45%
NORGES BANK9.43%
VANGUARD PORTFOLIO MANAGEMENT LLC8.03%
VANGUARD CAPITAL MANAGEMENT LLC6.22%
STATE STREET CORP6.08%
AQR CAPITAL MANAGEMENT LLC4.39%
Invesco Ltd.4.06%
APG Asset Management US Inc.4.01%
GEODE CAPITAL MANAGEMENT, LLC2.56%
Bank of New York Mellon Corp2.11%

Funds

Fund% owned
PGIM Ultra Short Bond ETF57.39%
Spectrum Preferred and Capital Securities Income Fund14.63%
Putnam Ultra Short Duration Income Fund13.15%
VANGUARD ULTRA-SHORT-TERM BOND FUND12.99%
Fidelity Series Investment Grade Bond Fund12.98%
VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND11.90%
PGIM Short-Term Corporate Bond Fund11.57%
Fidelity Investment Grade Bond Central Fund11.18%
AST Investment Grade Bond Portfolio10.88%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND10.84%

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