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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Vikram Malhotra | Mizuho Securities | 13 | 38% |
| Rich Anderson | Wedbush Securities | 12 | 0% |
| Jim Kammert | Evercore ISI | 11 | 0% |
| Tony Paolone | JPMorgan | 11 | 0% |
| Mike Carroll | RBC Capital Markets | 11 | 0% |
| Farrell Granath | Bank of America | 10 | 0% |
| Nick Joseph | Citigroup | 9 | 0% |
| Dylan Burzinski | Green Street | 8 | 13% |
| Omotayo Okusanya | Deutsche Bank | 7 | 0% |
| John Kim | BMO Capital Markets | 6 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Evercore ISI | 2 | 13 | 0% |
| Mizuho Securities | 1 | 13 | 38% |
| Wedbush Securities | 1 | 12 | 0% |
| RBC Capital Markets |
| 1 |
| 11 |
| 0% |
| JPMorgan | 1 | 11 | 0% |
| Bank of America | 1 | 10 | 0% |
| Citigroup | 1 | 9 | 0% |
| Green Street | 1 | 8 | 13% |
Alexandria's Q1 2026 was marked by the unprecedented absence of any public biotech leasing and a sharp 320 bps occupancy decline to 87.7% as 657,000 square feet of known vacates materialized. FFO fell to $1.73 per share, but management reaffirmed the full-year $6.40 midpoint as development leasing momentum ($394K sqft of leases and LOIs) and the advanced technology pivot at 311 Arsenal and 3000 Minuteman provided alternative demand sources. The disposition program remained on track with 80% of the $2.9 billion target pending or in process, highlighted by record $1,645/sqft pricing on the 409 Illinois Street sale, while the court defeat of NIH's 15% indirect cost limitation offered a potential catalyst for institutional demand recovery.
Demand | Capital Allocation | Capex Investment | Competitive Dynamics | Regulation Policy | Credit | Pricing | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 5 | 3 | 4 | 2 | 2 | 1 | 1 |
| 2025Q1 | 8 | 5 | 4 | 2 | 2 | |||
| 2025Q2 | 8 | 3 | 6 | 1 | 2 | 2 | ||
| 2025Q3 | 10 | 10 | 3 | 3 | 1 | 1 | 2 | 1 |
| 2025Q4 | 9 | 5 | 3 | 3 | 1 | 2 | 1 | 2 |
| 2026Q1 | 13 | 5 | 4 | 1 | 2 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 9 | 8 | 8 | 10 | 9 | 13 |
| Capital Allocation | 5 | 5 | 3 | 10 | 5 | 5 |
| Capex Investment | 3 | 4 | 6 | 3 | 3 | 4 |
| Competitive Dynamics | 4 | 1 | 3 | 3 | 1 | |
| Regulation Policy | 2 | 2 | 2 | 1 | 1 | 2 |
| Credit | 2 | 2 | 1 | 2 | 2 | |
| Pricing | 1 | 2 | 2 | 1 | ||
| Margin | 1 | 1 | 2 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ARE Alexandria Real Estate Equities | 2 | -9.7% | |
| BXP BXP, Inc. | 6 | +0.8% | |
| DLR Digital Realty | 8 | +12.0% |