Alexandria Real Estate Q2 2024 Earnings Update

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This update needs to be brief and it needs to be posted quickly.

Alexandria Real Estate (ARE) reported Q2 2024 results yesterday after the market closed.

Today, interest rates are down slightly (about 2 to 3 basis points).

The largest REIT index ETF, Vanguard Real Estate Index ETF (VNQ), is precisely flat on the day. It was up a little earlier, but flat at the moment.

ARE is down 3.34%, which is clearly underperforming.

Sometimes ARE moves on correlation to “office” REITs, but the average performance among office REITs is up nearly 1% on the day.

Therefore, it’s clear that this is a negative reaction specifically to ARE.

Note: Numbers as of a bit earlier today when I began compiling the research into this article.

Second Note: This is a rapid update. Small grammar errors will probably exist. 

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Alexandria Real Estate Q2 2024 Update