As of September 30, 2024, Alexandria Real Estate Equities, Inc. reported total assets of $38.49 billion, reflecting an increase from $36.77 billion at the end of 2023. The company's investments in real estate also rose to $32.95 billion, up from $31.63 billion previously. However, total liabilities increased to $15.78 billion from $14.15 billion during the same period.
The company experienced significant growth in net income for the three months ending September 30, 2024, reporting $213.60 million compared to $68.25 million for the same period in 2023. Net income attributable to common stockholders was $164.67 million, or $0.96 per share, a substantial increase from $21.86 million, or $0.13 per share, in the prior year. Additionally, funds from operations attributable to common stockholders rose to $407.87 million, or $2.37 per share, compared to $386.44 million, or $2.26 per share, in the same quarter of 2023.
Total revenues for the third quarter of 2024 reached $791.61 million, marking a 10.9% increase from $713.79 million in the same quarter of the previous year. Net cash provided by operating activities for the nine months ended September 30, 2024, was $1.23 billion, slightly up from $1.20 billion in the same period of 2023. Conversely, net cash used in investing activities decreased to $(1.96 billion) from $(2.11 billion) year-over-year.
As of September 30, 2024, Alexandria held cash, cash equivalents, and restricted cash totaling $579.64 million, down from $660.77 million at the end of 2023. During the nine months ended September 30, 2024, the company recognized real estate impairment charges of $36.5 million, primarily related to pre-acquisition costs for two potential acquisitions in Greater Boston.
About ALEXANDRIA REAL ESTATE EQUITIES, INC.
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