ARE Alexandria Real Estate Equities, Inc. Common Stock

NYSE · Real Estate · View on SEC EDGAR ↗
$46.69
Price · Aug 18, 2026
Fundamentals as of Aug 3, 2026
52W Range
$39–$88
15% of range
Analyst Rating
HOLD
25 analysts
Price Target
$52
+12% upside
P/E (TTM)
-5.5
ROE
-8.6%
Net Profit Margin
-47.2%

About Alexandria Real Estate Equities, Inc. Common Stock Company overview from Wikipedia

Alexandria Real Estate Equities, Inc. is a real estate investment trust based in Pasadena, California that invests in office buildings and laboratories leased to tenants in the life science and technology industries. Properties are generally located near universities to attract tenants. The company owns several major technology/biotechnology office campuses including the 740,972 square foot Alexandria Center for Life Science in Manhattan, and the 2,365,487 square foot Alexandria Center at Kendall Square and the 1,181,635 square foot Technology Square in the Boston area.

Read more

Alexandria Real Estate Equities, Inc. is a real estate investment trust based in Pasadena, California that invests in office buildings and laboratories leased to tenants in the life science and technology industries. Properties are generally located near universities to attract tenants. The company owns several major technology/biotechnology office campuses including the 740,972 square foot Alexandria Center for Life Science in Manhattan, and the 2,365,487 square foot Alexandria Center at Kendall Square and the 1,181,635 square foot Technology Square (Cambridge, Massachusetts) in the Boston area.

The company is dependent on the life sciences industry and funding for research by the United States Government.

The company also has a venture capital arm, Alexandria Venture Investments, which invests in life sciences firms.

The company is named after Alexandria, Egypt because of that city's connection to science.

Investments

As of December 31, 2024, the company owned or had investments in 391 properties containing 44.1 million square feet.

The company's largest tenants are as follows:

The company's revenues are derived in the following markets:

History

In 1993, one of the partners of Jacobs Engineering Group, Jerry M. Sudarsky, was presented with a Business Plan written by Kendell R. Lang titled BioProperties Management Group, Inc., which was a plan to form a REIT dedicated to funding biotech properties. The initial business plan included founders Kendell Lang, Alan Gold, Gary Kreitzer, and Steven Stone as part of the initial management team. Jacobs approached Joel S. Marcus, a lawyer and CPA, with the idea of representing their interests in this company to oversee the management team who intended to provide laboratories and office space to biotech firms. Jacobs invested in the company with $5 million.

Its first purchase was of 4 buildings in San Diego which had been negotiated and structured by Kendell R. Lang.

In 1997, it became a public company via an initial public offering, raising $155 million.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

ARE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$46.69
Market Cap
$7.97B
P/E (TTM)
-5.5
EPS (TTM)
$-8.44
Revenue (TTM)
$3.03B
Div Yield
—
ROE
-8.6%
Debt/Equity
—
52W Range
$39 – $88

ARE Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $3.03B
10-point trend, +228.4%
2016-12-31 → 2025-12-31
EPS $-8.44
10-point trend, -324.1%
2016-12-31 → 2025-12-31
Free Cash Flow —
Margins -47.2%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
ARE
Peer Median
P/E (TTM)
5-point trend, -109.9%
-5.5
29.8
P/S (TTM)
5-point trend, -83.5%
2.6
6.3
P/B
5-point trend, -75.2%
0.5
1.7

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
ARE
Peer Median
Net Profit Margin
5-point trend, -274.8%
-47.2%
15.7%
ROA
5-point trend, -285.6%
-4.0%
2.6%
ROE
5-point trend, -309.5%
-8.6%
4.6%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
ARE
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
ARE
Peer Median
Revenue YoY
5-point trend, +43.2%
-2.9%
—
Revenue CAGR 3Y
5-point trend, +43.2%
5.3%
—
Revenue CAGR 5Y
5-point trend, +43.2%
9.9%
—
EPS YoY
5-point trend, -320.9%
233.3%
—
Net Income YoY
5-point trend, -350.3%
211.6%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
ARE
Peer Median
EPS (Diluted)
5-point trend, -320.9%
$-8.44
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
ARE
Peer Median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
Ex-dateAmount
June 30, 2026$0.7200
March 31, 2026$0.7200
Dec. 31, 2025$0.7200
Sept. 30, 2025$1.3200
June 30, 2025$1.3200
March 31, 2025$1.3200
Dec. 31, 2024$1.3200
Sept. 30, 2024$1.3000
June 28, 2024$1.3000
March 27, 2024$1.2700
Dec. 28, 2023$1.2700
Sept. 28, 2023$1.2400
June 29, 2023$1.2400
March 30, 2023$1.2100
Dec. 29, 2022$1.2100
Sept. 29, 2022$1.1800
June 29, 2022$1.1800
March 30, 2022$1.1500
Dec. 30, 2021$1.1500
Sept. 29, 2021$1.1200

ARE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 25 analysts
  • Strong Buy 0 0.0%
  • Buy 3 12.0%
  • Hold 14 56.0%
  • Sell 7 28.0%
  • Strong Sell 1 4.0%

12-Month Price Target

14 analysts · 2026-08-16
Median target $52.00 +11.4%
Mean target $52.21 +11.8%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-1.6%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.43 $0.87 -1.3%
March 31, 2026 $2.10 $0.13 2.0%
Dec. 31, 2025 $-6.35 $0.28 -6.6%
Sept. 30, 2025 $-1.38 $0.50 -1.9%
June 30, 2025 $-0.64 $0.61 -1.2%
March 31, 2025 $-0.07 $0.68 -0.75%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
ARE $8.35B -5.8 -2.9% -47.2% -8.6% —
DOC $11.18B 160.8 4.5% 2.5% 0.90% —
OHI $13.10B 22.9 13.2% 49.6% 12.2% —
AHR $8.75B 112.0 9.2% 3.1% 2.5% —
JAN — — — — — —
CTRE $8.05B 23.0 60.8% 67.3% 9.2% —
HR $5.96B -23.9 -6.9% -20.8% -5.0% —
SBRA $4.77B 29.6 10.2% 20.1% 5.6% —
NHI $3.69B 25.3 12.1% 37.9% 9.8% —
MPT $2.99B -10.9 -2.4% -28.5% -5.9% —
LTC $1.67B 13.6 25.3% 44.9% 11.6% —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 10
Annual Income Statement data for ARE
Metric Trend 2025202420232022202120202019201820172016
Revenue 10-point trend, +228.4% $3.03B $3.12B $2.89B $2.59B $2.11B $1.89B $1.53B $1.33B $1.13B $922M
SG&A Expense 10-point trend, +83.2% $117M $168M $199M $177M $151M $133M $109M $90M $75M $64M
Operating Expenses 10-point trend, +394.3% $4.82B $2.69B $2.69B $2.13B $1.86B $1.64B $1.33B $1.11B $950M $975M
Interest Expense 10-point trend, +112.0% $227M $186M $74M $94M $142M $172M $174M $157M $129M $107M
Interest Income · · · · · · · · · $7M
Net Income 10-point trend, -2069.3% $-1.43B $323M $104M $522M $571M $771M $363M $379M $169M $-66M
EPS (Basic) 10-point trend, -324.1% $-8.44 $1.80 $0.54 $3.18 $3.83 $6.03 $3.13 $3.53 $1.59 $-1.99
EPS (Diluted) 10-point trend, -324.1% $-8.44 $1.80 $0.54 $3.18 $3.82 $6.01 $3.12 $3.52 $1.58 $-1.99
Shares (Basic) 10-point trend, +123.8% 170,307,000 172,071,000 170,909,000 161,659,000 146,921,000 126,106,000 112,204,000 103,010,000 91,546,000 76,103,000
Shares (Diluted) 10-point trend, +123.8% 170,307,000 172,071,000 170,909,000 161,659,000 147,460,000 126,490,000 112,524,000 103,321,000 92,063,000 76,103,000
Balance Sheet 11
Annual Balance Sheet data for ARE
Metric Trend 2025202420232022202120202019201820172016
Cash & Equivalents 10-point trend, +339.1% $549M $552M $618M $825M $361M $569M $190M $234M $254M $125M
PP&E (Net) 10-point trend, +447.6% $70M $40M $27M $23M $26M $31M $23M $15M $11M $13M
Total Assets 10-point trend, +229.1% $34.08B $37.53B $36.77B $35.52B $30.22B $22.83B $18.39B $14.46B $12.10B $10.35B
Total Liabilities 10-point trend, +200.2% $14.93B $15.13B $14.15B $12.84B $11.19B $9.38B $8.22B $6.57B $5.62B $4.97B
Long-term Debt 10-point trend, +197.8% $12.40B $12.24B $11.32B $10.16B $8.79B $7.56B $6.78B $5.48B $4.76B $4.16B
Common Stock 10-point trend, +94.4% $2M $2M $2M $2M $2M $1M $1M $1M $998.0K $877.0K
Paid-in Capital 10-point trend, +231.7% $15.50B $17.93B $18.49B $18.99B $16.20B $11.73B $8.87B $7.29B $5.82B $4.67B
AOCI 10-point trend, -648.9% $-29M $-46M $-16M $-21M $-7M $-7M $-10M $-10M $50M $5M
Stockholders' Equity 10-point trend, +216.0% $15.47B $17.89B $18.47B $18.97B $16.19B $11.73B $8.87B $7.34B $5.95B $4.90B
Liabilities + Equity 10-point trend, +229.1% $34.08B $37.53B $36.77B $35.52B $30.22B $22.83B $18.39B $14.46B $12.10B $10.35B
Shares Outstanding 10-point trend, +94.5% 170,537,867 172,203,443 171,910,599 170,748,395 158,043,880 136,690,329 120,800,315 111,011,816 99,783,686 87,665,880
Cash Flow 10
Annual Cash Flow data for ARE
Metric Trend 2025202420232022202120202019201820172016
D&A 10-point trend, +330.9% $1.35B $1.20B $1.09B $1.00B $821M $698M $545M $478M $417M $313M
Stock-based Comp 10-point trend, +61.7% $41M $60M $83M $58M $49M $44M $44M $35M $26M $25M
Operating Cash Flow 10-point trend, +259.4% $1.41B $1.50B $1.63B $1.29B $1.01B $883M $684M $570M $451M $393M
Investing Cash Flow 10-point trend, +124.2% $362M $-1.51B $-2.50B $-5.08B $-7.11B $-3.28B $-3.64B $-2.16B $-1.74B $-1.50B
Stock Issued 10-point trend, -100.0% $0 $27M $104M $2.35B $3.53B $2.32B $1.22B $1.29B $1.28B $1.43B
Stock Repurchased 4-point trend, +208187000.00 $208M $50M $0 $0 · · · · · ·
Net Stock Activity 10-point trend, -114.5% $-208M $-23M $104M $2.35B $3.50B $2.32B $1.22B $1.29B $1.28B $1.43B
Dividends Paid 9-point trend, +241.9% · $899M $848M $758M $656M $533M $451M $386M $322M $263M
Financing Cash Flow 10-point trend, -263.1% $-1.78B $-93M $674M $4.23B $5.92B $2.75B $2.93B $1.59B $1.42B $1.09B
Net Change in Cash 10-point trend, +51.7% $-6M $-101M $-197M $443M $-182M $355M $-29M $-5M $136M $-13M
Profitability 3
Annual Profitability data for ARE
Metric Trend 2025202420232022202120202019201820172016
Net Margin 8-point trend, -265.3% -47.2% 10.4% 3.6% 20.2% 27.0% 40.9% 23.7% 28.6% · ·
ROA 10-point trend, -478.3% -4.0% 0.87% 0.29% 1.6% 2.1% 3.7% 2.2% 2.9% 1.5% -0.69%
ROE 10-point trend, -475.2% -8.6% 1.8% 0.55% 3.0% 4.1% 7.5% 4.5% 5.7% 3.1% -1.5%
Efficiency 1
Annual Efficiency data for ARE
Metric Trend 2025202420232022202120202019201820172016
Asset Turnover 8-point trend, -15.4% 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 · ·
Per Share 6
Annual Per Share data for ARE
Metric Trend 2025202420232022202120202019201820172016
Book Value / Share 10-point trend, +62.4% $90.71 $103.88 $107.45 $111.11 $102.44 $85.78 $73.39 $66.14 $59.63 $55.85
Revenue / Share 8-point trend, +38.3% $17.77 $18.11 $16.88 $16.02 $14.34 $14.91 $13.61 $12.85 · ·
Cash Flow / Share 9-point trend, +69.7% $8.30 $8.74 $9.54 $8.01 $6.85 $6.98 $6.08 $5.52 $4.89 ·
Cash / Share 10-point trend, +125.7% $3.22 $3.21 $3.60 $4.83 $2.29 $4.16 $1.57 $2.11 $2.55 $1.43
Dividend / Share 10-point trend, +44.9% $5 $5 $5 $5 $4 $4 $4 $4 $3 $3
EPS (TTM) 10-point trend, -324.1% $-8.44 $1.80 $0.54 $3.18 $3.82 $6.01 $3.12 $3.52 $1.58 $-1.99
Growth Rates 7
Annual Growth Rates data for ARE
Metric Trend 2025202420232022202120202019201820172016
Revenue YoY 5-point trend, -123.8% -2.9% 8.0% 11.5% 22.5% 12.1% · · · · ·
Revenue CAGR 3Y 3-point trend, -65.0% 5.3% 13.8% 15.2% · · · · · · ·
Revenue CAGR 5Y 9.9% · · · · · · · · ·
EPS YoY 4-point trend, +740.3% · 233.3% -83.0% -16.8% -36.4% · · · · ·
EPS CAGR 3Y 2-point trend, +59.8% · -22.2% -55.2% · · · · · · ·
Net Income YoY 4-point trend, +917.0% · 211.6% -80.1% -8.7% -25.9% · · · · ·
Net Income CAGR 3Y 2-point trend, +64.5% · -17.3% -48.8% · · · · · · ·
Valuation (TTM) 11
Annual Valuation (TTM) data for ARE
Metric Trend 2025202420232022202120202019201820172016
Revenue TTM 10-point trend, +228.4% $3.03B $3.12B $2.89B $2.59B $2.11B $1.89B $1.53B $1.33B $1.13B $922M
Net Income TTM 10-point trend, -2069.3% $-1.43B $323M $104M $522M $571M $771M $363M $379M $169M $-66M
Market Cap 10-point trend, -14.3% $8.35B $16.80B $21.79B $24.87B $35.24B $24.36B $19.52B $12.79B $13.03B $9.74B
P/E 10-point trend, +89.6% -5.8 54.2 234.8 45.8 58.4 29.7 51.8 32.7 82.7 -55.8
P/S 10-point trend, -73.9% 2.8 5.4 7.6 9.6 16.7 12.9 12.7 9.6 11.6 10.6
P/B 10-point trend, -72.9% 0.5 0.9 1.2 1.3 2.2 2.1 2.2 1.7 2.2 2.0
P / Tangible Book 6-point trend, -74.0% 0.5 0.9 1.2 1.3 2.2 2.1 · · · ·
P / Cash Flow 10-point trend, -76.2% 5.9 11.2 13.4 19.2 34.9 27.6 28.5 22.4 28.9 24.8
Dividend Yield 9-point trend, +98.1% · 5.3% 3.9% 3.0% 1.9% 2.2% 2.3% 3.0% 2.5% 2.7%
Earnings Yield 10-point trend, -863.7% -17.2% 1.8% 0.43% 2.2% 1.7% 3.4% 1.9% 3.0% 1.2% -1.8%
Annual Payout 9-point trend, +241.9% · $899M $848M $758M $656M $533M $451M $386M $322M $263M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $3.03B$3.12B$2.89B$2.59B$2.11B
Net Income $-1.43B$323M$104M$522M$571M
Diluted EPS $-8.44$1.80$0.54$3.18$3.82

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Institutional owners (13F) 665 filers · $6.0B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
117 (+26 vs prior Q) 69 (-33 vs prior Q) 221 (+23 vs prior Q) 184 (-28 vs prior Q) +41.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
NORGES BANK $868,730,490 16,437,663 14.60% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $739,972,352 14,001,369 12.43% Shares
VANGUARD CAPITAL MANAGEMENT LLC $573,021,633 10,842,415 9.63% Shares
STATE STREET CORP $567,535,631 10,596,116 9.54% Shares
APG Asset Management US Inc. $370,079,243 6,981,310 6.22% Shares
GEODE CAPITAL MANAGEMENT, LLC $215,096,759 4,077,476 3.61% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $151,223,299 2,861,368 2.54% Shares
CENTERSQUARE INVESTMENT MANAGEMENT LLC $118,600,474 2,244,096 1.99% Shares
DIMENSIONAL FUND ADVISORS LP $103,070,078 1,950,238 1.73% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $73,816,758 1,396,722 1.24% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $70,528,325 1,334,500 1.19% Put option
BNP PARIBAS FINANCIAL MARKETS $68,010,868 1,286,866 1.14% Shares
TOWN LANE MANAGEMENT LP $66,062,500 1,250,000 1.11% Shares
BlackRock, Inc. $62,602,252 1,184,527 1.05% Shares
GOLDMAN SACHS GROUP INC $61,088,177 1,155,878 1.03% Shares
CANADA PENSION PLAN INVESTMENT BOARD $56,968,918 1,077,936 0.96% Shares
Nuveen Asset Management, LLC $50,733,658 520,079 0.85% Shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC $48,267,905 913,300 0.81% Shares
VANGUARD FIDUCIARY TRUST CO $47,342,132 895,783 0.80% Shares
EARNEST PARTNERS LLC $45,847,058 867,494 0.77% Shares
STRS OHIO $45,416,912 859,355 0.76% Shares
BANK OF AMERICA CORP /DE/ $37,830,030 715,800 0.64% Shares
MILLENNIUM MANAGEMENT LLC $35,606,789 673,733 0.60% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $34,922,064 660,777 0.59% Shares
FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ $28,822,593 545,366 0.48% Shares
Balyasny Asset Management L.P. $28,343,138 536,294 0.48% Shares
Quantinno Capital Management LP $28,206,610 533,710 0.47% Shares
Sumitomo Mitsui Trust Group, Inc. $26,496,348 501,350 0.45% Shares
MACKENZIE FINANCIAL CORP $24,854,457 470,283 0.42% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $24,480,120 463,200 0.41% Call option
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $24,464,582 462,906 0.41% Shares
AMERICAN CENTURY COMPANIES INC $23,342,577 441,676 0.39% Shares
BANK OF MONTREAL /CAN/ $22,240,918 420,831 0.37% Shares
Caisse de depot et placement du Quebec $21,863,464 413,689 0.37% Shares
LASALLE INVESTMENT MANAGEMENT SECURITIES LLC $21,539,176 407,553 0.36% Shares
CAPITAL FUND MANAGEMENT S.A. $21,401,660 404,951 0.36% Shares
PRUDENTIAL FINANCIAL INC $20,845,943 394,436 0.35% Shares
CITADEL ADVISORS LLC $20,109,425 380,500 0.34% Call option
IEQ CAPITAL, LLC $20,007,902 378,579 0.34% Shares
NEW YORK STATE COMMON RETIREMENT FUND $19,141,372 362,183 0.32% Shares
FMR LLC $18,901,010 357,635 0.32% Shares
TOCQUEVILLE ASSET MANAGEMENT L.P. $18,546,281 350,923 0.31% Shares
BAMCO INC /NY/ $17,766,902 336,176 0.30% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $17,755,380 335,958 0.30% Shares
LAZARD ASSET MANAGEMENT LLC $17,551,961 332,109 0.29% Shares
CITADEL ADVISORS LLC $17,419,360 329,600 0.29% Put option
Vanguard Global Advisers, LLC $17,028,957 322,213 0.29% Shares
Swiss National Bank $16,526,195 312,700 0.28% Shares
RHUMBLINE ADVISERS $16,474,809 311,729 0.28% Shares
AXA Investment Managers S.A. $15,173,464 182,067 0.25% Shares
ALLIANCEBERNSTEIN L.P. $14,985,537 322,825 0.25% Shares
Gradient Investments LLC $14,636,503 276,944 0.25% Shares
Solel Partners LP $14,164,223 268,008 0.24% Shares
NOMURA ASSET MANAGEMENT CO LTD $13,758,441 260,330 0.23% Shares
BARCLAYS PLC $13,672,560 258,705 0.23% Shares
Mariner, LLC $13,436,346 254,169 0.23% Shares
California Public Employees Retirement System $13,245,373 250,622 0.22% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $13,219,159 250,126 0.22% Shares
ENVESTNET ASSET MANAGEMENT INC $13,046,893 246,866 0.22% Shares
NAN FUNG TRINITY (HK) LTD $12,630,146 238,981 0.21% Shares
Diamond Hill Capital Management, LLC (Investment Advisor) $12,449,663 235,566 0.21% Shares
Connor, Clark & Lunn Investment Management Ltd. $12,011,325 227,272 0.20% Shares
Quinn Opportunity Partners LLC $11,309,900 214,000 0.19% Shares
THOMPSON INVESTMENT MANAGEMENT, INC. $11,226,989 212,431 0.19% Shares
Allianz Asset Management GmbH $11,115,201 210,316 0.19% Shares
Asset Management One Co., Ltd. $10,316,381 222,240 0.17% Shares
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS $10,301,258 194,915 0.17% Shares
Heitman Real Estate Securities LLC $10,249,782 193,941 0.17% Shares
CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC $9,412,955 178,107 0.16% Shares
VANGUARD GROUP INC $9,184,863 187,676 0.15% Shares
Fideuram Asset Management (Ireland) dac $9,116,446 204,046 0.15% Shares
Gotham Asset Management, LLC $8,762,319 165,796 0.15% Shares
AMERIPRISE FINANCIAL INC $8,734,106 164,988 0.15% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $8,532,785 183,817 0.14% Shares
VANGUARD ASSET MANAGEMENT, Ltd $8,160,886 154,416 0.14% Shares
Vanguard Investments Australia, Ltd. $8,158,613 154,373 0.14% Shares
Waterfront Capital Partners, LLC $8,111,482 97,330 0.14% Shares
State of New Jersey Common Pension Fund D $8,028,761 151,916 0.13% Shares
Kawa Capital Management, Inc $7,926,400 160,000 0.13% Shares
Indivisible Partners $7,641,264 144,584 0.13% Shares
ALGERT GLOBAL LLC $7,626,783 144,310 0.13% Shares
Squarepoint Ops LLC $7,615,685 144,100 0.13% Put option
Cerity Partners LLC $7,344,420 138,967 0.12% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $7,213,127 136,483 0.12% Shares
Zurcher Kantonalbank (Zurich Cantonalbank) $7,149,389 135,277 0.12% Shares
Engineers Gate Manager LP $7,127,932 134,871 0.12% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $7,041,523 133,236 0.12% Shares
MACQUARIE GROUP LTD $6,797,461 128,618 0.11% Shares
MORGAN STANLEY $6,692,884 126,639 0.11% Shares
NUANCE INVESTMENTS, LLC $6,692,602 126,634 0.11% Shares
MERCER GLOBAL ADVISORS INC /ADV $6,584,205 124,583 0.11% Shares
Retirement Systems of Alabama $6,338,248 119,929 0.11% Shares
First Financial Bankshares Inc $6,326,674 119,710 0.11% Shares
QSM Asset Management Ltd $6,105,300 112,800 0.10% Shares
STATE OF WISCONSIN INVESTMENT BOARD $6,104,334 115,503 0.10% Shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $6,019,863 139,699 0.10% Shares
WOLVERINE TRADING, LLC $5,867,190 69,500 0.10% Call option
JANE STREET GROUP, LLC $5,787,075 109,500 0.10% Call option
FLAX POND CAPITAL, LLC $5,736,868 108,550 0.10% Shares
State of Tennessee, Department of Treasury $5,610,662 106,162 0.09% Shares

Company insiders 40 insiders · 21 officers · 15 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Peter M Moglia Chief Executive Officer July 31, 2026 F 373,022 0 0 $0
Stephen Richardson Co-Chief Executive Officer July 31, 2022 F 173,945 0 0 $0
Marc E Binda CFO & Treasurer June 9, 2026 S 188,264 0 1 $-108,000
Dean A Shigenaga Former President and CFO Sept. 15, 2023 F 172,479 0 0 $0
Hunter Kass Co-President and RMD Jan. 2, 2025 A 165,021 0 0 $0
Daniel J Ryan Co-President and RMD Jan. 2, 2025 A 237,886 0 0 $0
Thomas J Andrews Co-President Aug. 7, 2020 S 114,994 0 0 $0
Joseph Hakman Co-Chief Operating Officer March 31, 2025 A 74,299 0 0 $0
Lawrence J Diamond Co-Chief Operating Officer Jan. 2, 2025 A 140,164 0 0 $0
Jennifer Banks Co-Chief Operating Officer April 30, 2020 S 60,571 0 0 $0
Joel S Marcus Executive Chairman May 6, 2026 P 587,724 8 0 $2,426,062
John Hart Cole EVP, Capital Markets & Co-RMD March 31, 2025 A 58,547 0 0 $0
Kristina Fukuzaki-Carlson EVP - Business Operations March 31, 2025 A 44,380 0 0 $0
Orraparn C. Lee EVP - Accounting March 31, 2025 A 49,213 0 0 $0
Madeleine Thorp Alsbrook EVP - Talent Management March 31, 2025 A 30,269 0 0 $0
Jackie B. Clem General Counsel & Secretary March 31, 2025 A 56,978 0 0 $0
Gary D. Dean EVP, Real Estate Legal Affairs March 31, 2025 A 56,593 0 0 $0
Vincent Ciruzzi Chief Development Officer Dec. 31, 2024 F 72,820 0 0 $0
John H Cunningham EVP - Regional Market Director Dec. 15, 2023 A 79,283 0 0 $0
Terezia C Nemeth EVP - Regional Market Director Dec. 15, 2022 F 28,793 0 0 $0
Peter Nelson Corporate Secretary April 1, 2005 A 109,974 0 0 $0
Sheila K. Mcgrath Director July 15, 2026 A 12,205 0 0 $0
Michael A Woronoff Director July 15, 2026 A 28,505 0 0 $0
James P Cain Director July 15, 2026 A 13,427 0 0 $0
Steve Hash Director July 15, 2026 A 30,997 0 0 $0
Richard Hunter Klein Director July 15, 2026 A 21,866 0 0 $0
Claire Aldridge Director March 14, 2025 A 1,000 0 0 $0
Maria C Freire Director Jan. 15, 2025 A 7,453 0 0 $0
Cynthia L Feldmann Director Jan. 15, 2025 A 5,742 0 0 $0
Jennifer Friel Goldstein Director Jan. 13, 2023 A 3,784 0 0 $0
James H Richardson Director March 15, 2021 G 44,000 0 0 $0
John L Atkins III Director Jan. 15, 2021 A 21,554 0 0 $0
Martin A Simonetti Director Dec. 31, 2012 A 9,779 0 0 $0
Alan G Walton Director Dec. 30, 2011 A 8,708 0 0 $0
Anthony Solomon Director Jan. 2, 2004 A 16,863 0 0 $0
Andres Gavinet — March 31, 2026 A 112,516 0 0 $0
Richard B Jennings — Jan. 15, 2016 A 30,279 0 0 $0
Richmond A Wolf — Jan. 1, 2007 A 6,100 0 0 $0
Jerry Sudarsky — Aug. 16, 2006 G 91,760 0 0 $0
Nancy Kelley — Jan. 31, 2005 A 10,000 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 2 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Alexandria Real Estate Equities, Inc., Alexandria Venture Investments, LLC ×4 filings April 1, 2024 — Initial filing M&A / sale SEC
Alexandria Real Estate Equities Inc., Alexandria Equities, LLC May 27, 2016 — Initial filing — SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 116 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
RSPR · Invesco Exchange-Traded Fund Trust 3.09% 62,163 Aug. 8, 2026 Daily
KBWY · Invesco Exchange-Traded Fund Trust … 2.80% 174,896 Aug. 8, 2026 Daily
SRHR · Elevation Series Trust 2.79% 35,000 NS April 30, 2026 N-PORT
PPTY · ETF Series Solutions 2.10% 10,423 NS May 31, 2026 N-PORT
RDOG · ALPS ETF Trust 2.05% 4,619 NS May 31, 2026 N-PORT
CVAR · ETF Opportunities Trust 1.73% 16,514 NS April 30, 2026 N-PORT
REZ · iShares Trust 1.70% 302,207 SH Aug. 8, 2026 Daily
REIT · ALPS ETF Trust 1.52% 16,067 NS May 31, 2026 N-PORT
RIET · ETF Series Solutions 1.38% 29,041 NS May 31, 2026 N-PORT
SPDV · ETF Series Solutions 1.26% 28,023 NS April 30, 2026 N-PORT
BLDG · Cambria ETF Trust 1.05% 13,307 NS April 30, 2026 N-PORT
RPV · Invesco Exchange-Traded Fund Trust 0.99% 339,599 Aug. 8, 2026 Daily
JPRE · J.P. Morgan Exchange-Traded Fund Tr… 0.83% 79,540 NS May 31, 2026 N-PORT
VGSR · Manager Directed Portfolios 0.75% 74,376 NS March 31, 2026 N-PORT
EPMV · Harbor ETF Trust 0.71% 783 NS April 30, 2026 N-PORT
BBRE · J.P. Morgan Exchange-Traded Fund Tr… 0.69% 170,421 NS May 31, 2026 N-PORT
USRT · iShares Trust 0.68% 645,581 SH Aug. 8, 2026 Daily
URE · ProShares Trust 0.57% 6,427 NS May 31, 2026 N-PORT
IYR · iShares Trust 0.55% 515,025 SH Aug. 8, 2026 Daily
SCHH · SCHWAB STRATEGIC TRUST 0.55% 1,103,472 NS May 31, 2026 N-PORT
DFAR · Dimensional ETF Trust 0.49% 205,680 NS April 30, 2026 N-PORT
REET · iShares Trust 0.45% 469,654 SH Aug. 8, 2026 Daily
DRN · Direxion Shares ETF Trust 0.44% 5,100 NS April 30, 2026 N-PORT
VNQ · VANGUARD SPECIALIZED FUNDS 0.44% 5,931,207 SH Aug. 8, 2026 Daily
FREL · FIDELITY COVINGTON TRUST 0.42% 150,467 NS April 30, 2026 N-PORT
ERET · iShares Trust 0.40% 1,156 SH Aug. 8, 2026 Daily
EPSV · Harbor ETF Trust 0.38% 466 NS April 30, 2026 N-PORT
DFGR · Dimensional ETF Trust 0.32% 279,115 NS April 30, 2026 N-PORT
IQSM · New York Life Investments ETF Trust 0.26% 20,561 NS April 30, 2026 N-PORT
ISCV · iShares Trust 0.23% 32,778 SH Aug. 8, 2026 Daily
VBR · VANGUARD INDEX FUNDS 0.20% 2,537,937 SH Aug. 8, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.18% 3,544,334 Aug. 8, 2026 Daily
BKMC · BNY Mellon ETF Trust 0.17% 26,633 NS April 30, 2026 N-PORT
VCIT · VANGUARD SCOTTSDALE FUNDS 0.16% 124,515,400 PA Aug. 8, 2026 Daily
SCHM · SCHWAB STRATEGIC TRUST 0.14% 421,284 NS May 31, 2026 N-PORT
CAPE · DoubleLine ETF Trust 0.14% 8,042 NS March 31, 2026 N-PORT
EQAL · Invesco Exchange-Traded Fund Trust … 0.14% 23,683 Aug. 8, 2026 Daily
PFIG · Invesco Exchange-Traded Fund Trust … 0.13% 175,000 Aug. 8, 2026 Daily
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.12% 60,269 NS April 30, 2026 N-PORT
PDN · Invesco Exchange-Traded Fund Trust … 0.12% 12,681 SH Aug. 8, 2026 Daily
ISCB · iShares Trust 0.11% 6,692 SH Aug. 8, 2026 Daily
SMMD · iShares Trust 0.11% 86,360 SH Aug. 8, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.11% 3,997,668 SH Aug. 8, 2026 Daily
ESML · iShares Trust 0.10% 59,385 SH Aug. 8, 2026 Daily
WSML · iShares Trust 0.09% 13,873 SH Aug. 8, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS 0.09% 49,067,000 PA Aug. 8, 2026 Daily
VTC · VANGUARD SCOTTSDALE FUNDS 0.09% 1,777,000 PA Aug. 8, 2026 Daily
SMLF · iShares Trust 0.08% 72,305 SH Aug. 8, 2026 Daily
VUSB · VANGUARD BOND INDEX FUNDS 0.08% 6,951,000 PA Aug. 8, 2026 Daily
IWS · iShares Trust 0.08% 260,407 SH Aug. 8, 2026 Daily