Alexandria Real Estate Equities trades lower as potential tenant wind-downs hit Q1 earnings
Alexandria Real Estate Equities (ARE) shares fell 2.00% to $44.65 after reporting lower Q1 earnings due to potential tenant wind-downs. Adjusted FFO per share was $1.73, matching consensus but down from $2.30 a year ago. Revenue of $671.02M also fell short of the previous year's $762.04M and consensus estimates. Rental income decreased to $653.01M. The company narrowed its 2026 adjusted FFO guidance to $6.30-$6.50, reflecting a $25M-$30M reduction due to tenant issues. An earnings conference is scheduled for April 28.
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