Alexandria Real Estate Equities said total revenues for the fiscal year ended December 31, 2023 were $2.9 billion, up 11.5% from $2.6 billion a year earlier. The company also said Same Property net operating income rose 3.4% (4.6% on a cash basis) over the same period.

1. 01

   Alexandria Real Estate Equities said total revenues for the fiscal year ended December 31, 2023 were $2.9 billion, up 11.5% from $2.6 billion a year earlier. The company also said Same Property net operating income rose 3.4% (4.6% on a cash basis) over the same period.

2. 02

   The company said it recognized real estate impairment charges of $461.1 million in 2023, which mainly related to non-strategic assets not integral to its mega campus strategy that were sold or were classified as held for sale as of the end of 2023. It said impairment charges for 2022 were $65.0 million.

3. 03

   The company said it recognized an investment loss of $195.4 million in 2023, including a $111.6 million decrease in fair value of its investments in privately held entities and a $89.9 million reclassification of unrealized gains from prior periods into realized gains. It said the investment loss for 2022 was $331.8 million.

4. 04

   The company said it expects dispositions and partial interest sales in 2024 to range from $900 million to $1.9 billion. It also said it expects net cash flows from operating activities after dividends to be retained in 2024 in a range of $400.0 million to $500.0 million.

Key figures

Fiscal year ended December 31, 2023

Revenue

$2.9B

Net income

$104M

EPS

$0.54

Operating cash flow

$1.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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