Earnings per share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Reconciliation of the numerators and denominators of the basic and diluted earnings per share computations

The table below reconciles the numerators and denominators of the basic and diluted EPS computations for the years ended

December 31, 2025, 2024, and 2023 (in thousands, except per share amounts):

	Year Ended December 31,
	2025	2024	2023
Net (loss) income	$(1,216,726)	$510,733	$280,994
Net income attributable to noncontrolling interests	(212,844)	(187,784)	(177,355)
Net income attributable to unvested RSAs with nonforfeitable dividends	(8,417)	(13,394)	(11,195)
Numerator for basic and diluted EPS – net (loss) income attributable to Alexandria Real Estate Equities, Inc.’s common stockholders	$(1,437,987)	$309,555	$92,444
Denominator for basic EPS – weighted-average shares of common stock outstanding	170,307	172,071	170,909
Dilutive effect of unvested RSAs with forfeitable dividends	—	—	—
Denominator for diluted EPS – weighted-average shares of common stock outstanding	170,307	172,071	170,909
Net (loss) income per share attributable to Alexandria Real Estate Equities, Inc.’s common stockholders:
Basic	$(8.44)	$1.80	$0.54
Diluted	$(8.44)	$1.80	$0.54