On 12 Nov 2026 our base value for Alexandria Real Estate Equities is $151.80 a share, 242.7% above its $44.30 close; 1 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $151.80 | +242.7% | funds from operations $9.96 a share (FY2024) at its own 4-year median of 15.2× (today 4.4×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $654.28m | $821.06m | $1.48bn | 147.46m | $10.01 | $222.96 | 22.3× |
| 2022 | $670.70m | $927.80m | $1.60bn | 161.66m | $9.89 | $145.67 | 14.7× |
| 2023 | $280.99m | $1.09bn | $1.37bn | 170.91m | $8.04 | $126.77 | 15.8× |
| 2024 | $510.73m | $1.20bn | $1.71bn | 172.07m | $9.96 | $97.55 | 9.8× |
| Median P/FFO | 15.2× |
| Latest FFO per share (FY2024) | $9.96 |
| Value per share = median × latest FFO per share | $151.80 |
For a REIT the base value is the price-to-FFO value: $151.80 a share.
Bear $134.39 · Base $151.80 · Bull $173.17 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 49% chance the price is higher than today's $44.30 in a year, from 46.24% volatility. The simulation assumes the price drifts up at our discount rate of 9.59% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $47.37 | $149.64 |
| 9 Oct 2026 | $45.51 | $151.80 |
| 16 Oct 2026 | $41.62 | $151.80 |
| 23 Oct 2026 | $43.02 | $151.80 |
| 30 Oct 2026 | $40.20 | $151.80 |
| 6 Nov 2026 | $44.80 | $151.80 |
| 12 Nov 2026 | $44.30 | $151.80 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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