Stockholders' equity

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Stockholders' equity

Common equity transactions

During the nine months ended September 30, 2021, our common equity transactions included the following:

•In January 2021, we entered into forward equity sales agreements to sell 6.9 million shares of our common stock (including the exercise of underwriters’ option) aggregating $1.1 billion at a public offering price of $164.00 per share, before underwriting discounts and commissions.

•During the three months ended March 31, 2021, we settled a portion of our forward equity sales agreements by issuing 5.4 million shares and received proceeds of $850.5 million.

•As of September 30, 2021, 1.5 million shares representing net proceeds of approximately $228.5 million remain outstanding under our forward equity sales agreements.

•In February 2021, we entered into a new ATM common stock offering program, which allowed us to sell up to an aggregate of $1.0 billion of our common stock.

•During the three months ended March 31, 2021, we issued 3.1 million shares under our ATM program at a price of $163.26 per share (before underwriting discounts) and received net proceeds of $492.3 million.

•During the three months ended September 31, 2021, we issued 2.5 million shares under our ATM program at a price of $200.73 per share (before underwriting discounts) and received net proceeds of $492.3 million.

•As of September 30, 2021, we have no amounts remaining under our ATM program.

•In March 2021, we issued the remaining 362 thousand shares of common stock to settle our forward equity sales agreements that were outstanding as of December 31, 2020, and received net proceeds of $56.2 million.

•In June 2021, we entered into forward equity sales agreements to sell 8.1 million shares of our common stock (including the exercise of underwriters’ option) aggregating $1.5 billion at a public offering price of $184.00 per share, before underwriting discounts and commissions.

•During the three months ended June 30, 2021, we settled a portion of our forward equity sales agreements by issuing 4.9 million shares and received net proceeds of $870.3 million.

•As of September 30, 2021, 3.1 million shares representing net proceeds of approximately $543.4 million remain outstanding under our forward equity sales agreements.

Dividends

During the three months ended March 31, 2021, we declared cash dividends on our common stock aggregating $160.8 million, or $1.09 per share. In April 2021, we paid the cash dividends on our common stock declared for the three months ended March 31, 2021.

During the three months ended June 30, 2021, we declared cash dividends on our common stock aggregating $170.6 million, or $1.12 per share. In July 2021, we paid the cash dividends on our common stock declared for the three months ended June 30, 2021.

During the three months ended September 30, 2021, we declared cash dividends on our common stock aggregating $173.6 million, or $1.12 per share. In October 2021, we paid the cash dividends on our common stock declared for the three months ended September 30, 2021.

Accumulated other comprehensive loss

The following table presents the changes in accumulated other comprehensive loss attributable to Alexandria Real Estate Equities, Inc.’s stockholders during the nine months ended September 30, 2021, which was entirely due to net unrealized gains on foreign currency translation related to our operations in Canada and China (in thousands):

	Total
Balance as of December 31, 2020	$	(6,625)
Other comprehensive income before reclassifications	596
Net other comprehensive income	596
Balance as of September 30, 2021	$	(6,029)

Common stock, preferred stock, and excess stock authorizations

Our charter authorizes the issuance of 200.0 million shares of common stock, of which 153.3 million shares were issued and outstanding as of September 30, 2021. Our charter also authorizes the issuance of up to 100.0 million shares of preferred stock, none of which were issued and outstanding as of September 30, 2021. In addition, 200.0 million shares of “excess stock” (as defined in our charter) are authorized, none of which were issued and outstanding as of September 30, 2021.