Alexandria raises 2023 disposition guidance to $1.75B; records $169M impairment on office campus

ALEXANDRIA REAL ESTATE EQUITIES, INC.

2023-Q2 EPS reported $0.95 revenue$1,414,695,000

Revised 2023 dispositions midpoint up $225M to $1.75B; construction spending midpoint up $210M to $2.9B.
Q2 impairment charges of $168.6M, including $145.4M at 275 Grove Street (pure office campus).
EPS guidance raised to $2.72-$2.78 from $2.21-$2.31, driven by $187M gain on sale.
FFO per share (as adjusted) midpoint unchanged at $8.96; range narrowed 4 cents.
Occupancy 93.6% as of June 30; leasing rental rate changes of 16.6% GAAP / 8.3% cash.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

ALEXANDRIA REAL ESTATE EQUITIES, INC. updated its the three months and six months ended June 30, 2023 guidance (raised).

Period: the three months and six months ended June 30, 2023
Guidance: raised
Result: preliminary results

Exact text from the filing

Alexandria Real Estate Equities, Inc., a Maryland corporation (the “Company”), is furnishing with this report as Exhibit 99.1 certain select preliminary unaudited operating results for the three months and six months ended June 30, 2023, together with key select updates to the Company’s 2023 guidance.

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Source: SEC EDGAR

accession 0001035443-23-000226

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