ARE - Alexandria Real Estate Equities Inc. (ARE) Q4 2023 Earnings Call Transcript

2024-01-30 17:22:07 ET

Alexandria Real Estate Equities, Inc. (ARE)

Q4 2023 Earnings Conference Call

January 30, 2024 03:00 PM ET

Company Participants

Paula Schwartz - Investor Relations

Joel Marcus - Executive Chairman & Founder

Peter Moglia - Chief Executive Officer & Chief Investment Officer

Hallie Kuhn - Senior Vice President of Science and Technology & Capital Markets

Marc Binda - Chief Financial Officer & Treasurer

Conference Call Participants

Josh Dennerlein - Bank of America Merrill Lynch

Anthony Paolone - JPMorgan

Vikram Malhotra - Mizuho

Rich Anderson - Wedbush

Michael Griffin - Citi

Jim Kammert - Evercore ISI

Tom Catherwood - BTIG

Jamie Feldman - Wells Fargo

Michael Carroll - RBC Capital Markets

Dylan Burzinski - Green Street

Presentation

Operator

Good afternoon, and welcome to the Alexandria Real Estate Equities 2023 Fourth Quarter and Year-End Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Paula Schwartz, Investor Relations. Please go ahead.

Paula Schwartz

Thank you, and good afternoon, everyone. This conference call contains forward-looking statements within the meaning of the federal securities laws. The company's actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's periodic reports filed with the Securities and Exchange Commission.

And now I would like to turn the call over to Joel Marcus, Executive Chairman and Founder. Please go ahead, Joel.

Joel Marcus

Thanks, Paul, and welcome, everybody. Consistent with Alexandria is building the future of life-changing innovation in medicine and at the Vanguard and the heart of the $5 trillion secularly growing industry, I want to wish everyone a safe and healthy 2024.

On the cover of our press release and supplemental package, we've included the great Jim Collins quote about Alexandria, Alexandria has achieved the three outputs that define a great company: superior results, distinctive impact and lasting endurance. On superior results, we're very proud to say that we've had a very strong total shareholder return since IPO of over 1,500%, beating all of the benchmark REIT indices and also every -- almost every other health care REIT.

On distinctive impact, Alexandria's tenants whom we have supported are responsible for an astounding 50% of the novel FDA approved therapies over the last decade, truly amazing.

And our unique one of a kind full continuum of care 115 project in Dayton, Ohio has treated more than 7,000 patients afflicted by opioid addiction and other substance abuses and has made a dramatic positive impact on the lives of thousands of people, and we're very proud of that accomplishment....

For further details see: