Alexandria: Why This Life Science REIT Looks Too Cheap To Ignore

Alexandria Real Estate is undervalued at 8.8x FFO, despite sector headwinds and unique industry risks, presenting a favorable risk/reward asymmetry. ARE's premium, irreplicable life science campuses in top innovation hubs and high tenant switching costs create durable competitive moats. Current industry challenges—higher rates, biotech slowdown, and lower occupancy—are cyclical, not structural, for Alexandria's specialized portfolio.