Alexandria Q2 AFFO Beats, Guidance Reaffirmed

Alexandria Real Estate Equities (ARE) reported second-quarter 2025 adjusted funds from operations (AFFO) of $2.33 per share, beating analyst expectations but slightly below last year's $2.36. Total revenues were $762 million, surpassing consensus estimates but showing a marginal year-over-year decline. The company leased 769,815 rentable square feet during the quarter, with rental rate growth, though occupancy declined to 90.8%. Alexandria reaffirmed its full-year 2025 FFO guidance at $9.16 to $9.36 per share, consistent with analyst forecasts. Despite these strong results, the stock is down 19.9% year-to-date and faces ongoing asset sales. Management's future outlook and approach to market challenges will remain key for investors.