FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from ____________ to ____________Commission file number 1-12993 ALEXANDRIA REAL ESTATE EQUITIES, INC. (Exact name of registrant as specified in its charter) 26 North Euclid Avenue, Pasadena, California 91101(Address of principal executive offices) (Zip code) Securities registered pursuant to Section 12(b) of the Exchange Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted andposted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit and post such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of April15, 2026, 174,269,480 shares of common stock, par value $0.01 per share, were outstanding. TABLE OF CONTENTS Item 1.FINANCIAL STATEMENTS (UNAUDITED)Consolidated Balance Sheets as of March31, 2026 and December31, 2025..........................................................1Consolidated Financial Statements for the Three Months Ended March 31, 2026 and 2025:Consolidated Statements of Operations...................................................................................................................2Consolidated Statements of Comprehensive Income............................................................................................3Consolidated Statements of Changes in Stockholders’ Equity and Noncontrolling Interests..........................4Consolidated Statements of Cash Flows................................................................................................................6Notes to Consolidated Financial Statements....................................................................................................................8Item 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS........................................................................................................................................................................45Item 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.........................................................116Item 4.CONTROLS AND PROCEDURES.....................................................................................................................................117PARTII – OTHER INFORMATIONItem 1.LEGAL PROCEEDINGS......................................................................................................................................................118 PageItem 1A.RISK FACTORS....................................................................................................................................................................118Item 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS...................................................118Item 5.OTHER INFORMATION.......................................................................................................................................................118Item 6.EXHIBITS...............................................................................................................................................................................119SIGNATURES.................................................................................................................................................................................................120 GLOSSARY The following abbreviations or acronyms that may be used in this documentshall have the adjacent meanings set forth below:ASUAccounting Standards UpdateATMAt the MarketCADCanadian D