BTIG downgraded Alexandria Real Estate (ARE) to Neutral from Buy without a price target The company’s Q3 report included an earnings miss, downward revision to fiscal year guidance and a “grim” initial outlook for 2026, the analyst tells investors in a research note. BTIG cites Alexandria’s higher expected occupancy erosion in the second half of 2025 and into 2026, asset sale delays, and slower lease-up of new developments for the downgrade. The absorption of excess supply could take materially longer than previously anticipated, “delaying the next cycle for life science real estate indefinitely,” the firm contends.
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