ARE vs. AMT

Last updated Jun 4, 2026

ARE (Alexandria Real Estate Equities, Inc.) and AMT (American Tower Corporation) are both stocks. Both are in the Real Estate sector — ARE in REIT - Office, AMT in REIT - Specialty. Over the past 10 years, ARE returned -2.82%/yr vs 8.14%/yr for AMT. At a 0.37 correlation, their price movements are largely independent.

Performance

ARE vs. AMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alexandria Real Estate Equities, Inc. (ARE) and American Tower Corporation (AMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARE achieves a 6.42% return, which is significantly higher than AMT's 4.84% return. Over the past 10 years, ARE has underperformed AMT with an annualized return of -2.82%, while AMT has yielded a comparatively higher 8.14% annualized return.

ARE

• 1D: -2.79%
• 1M: 24.62%
• YTD: 6.42%
• 6M: 9.15%
• 1Y: -22.23%
• 3Y*: -19.57%
• 5Y*: -19.15%
• 10Y*: -2.82%

AMT

• 1D: -1.77%
• 1M: 0.75%
• YTD: 4.84%
• 6M: 5.49%
• 1Y: -11.45%
• 3Y*: 1.89%
• 5Y*: -4.38%
• 10Y*: 8.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARE vs. AMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARE Alexandria Real Estate Equities, Inc.	6.42%	-46.60%	-19.44%	-9.11%	-32.62%	28.09%	13.27%	44.04%	-8.97%	20.95%
AMT American Tower Corporation	4.84%	-0.92%	-12.16%	5.37%	-25.67%	32.89%	-0.48%	47.87%	13.32%	37.71%

Correlation

The correlation between ARE and AMT is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jun 8, 1998	0.37

The correlation between ARE and AMT shifts across timeframes, from 0.18 (1 year) to 0.48 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS ARE : -$8.32 AMT : $6.14
PS Ratio ARE : 2.26 AMT : 7.89
Total Revenue (TTM) ARE : $2.90B AMT : $10.82B
Gross Profit (TTM) ARE : $1.98B AMT : $7.94B
EBITDA (TTM) ARE : $646.49M AMT : $6.71B

Return for Risk

ARE vs. AMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARE

ARE Risk / Return Rank: 22
ARE Sharpe Ratio Rank: 18
ARE Sortino Ratio Rank: 21
ARE Omega Ratio Rank: 20
ARE Calmar Ratio Rank: 26
ARE Martin Ratio Rank: 28

AMT

AMT Risk / Return Rank: 22
AMT Sharpe Ratio Rank: 19
AMT Sortino Ratio Rank: 18
AMT Omega Ratio Rank: 19
AMT Calmar Ratio Rank: 26
AMT Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARE vs. AMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alexandria Real Estate Equities, Inc. (ARE) and American Tower Corporation (AMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARE	AMT	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.50	-0.02
Sortino ratio: Return per unit of downside risk	-0.44	-0.55	+0.11
Omega ratio: Gain probability vs. loss probability	0.94	0.94	0.00
Calmar ratio: Return relative to maximum drawdown	-0.43	-0.43	0.00
Martin ratio: Return relative to average drawdown	-0.70	-0.63	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARE vs. AMT - Sharpe Ratio Comparison

The current ARE Sharpe Ratio is -0.51, which is comparable to the AMT Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of ARE and AMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARE	AMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	-0.50	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.58	-0.17	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.31	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.20	+0.03

Drawdowns

ARE vs. AMT - Drawdown Comparison

The maximum ARE drawdown since its inception was -77.92%, smaller than the maximum AMT drawdown of -98.70%. Use the drawdown chart below to compare losses from any high point for ARE and AMT.

Drawdown Indicators

	ARE	AMT	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-98.70%	+20.78%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-26.67%	-24.94%
Max Drawdown (3Y) Largest decline over 3 years	-65.64%	-27.54%	-38.10%
Max Drawdown (5Y) Largest decline over 5 years	-77.92%	-45.34%	-32.58%
Max Drawdown (10Y) Largest decline over 10 years	-77.92%	-45.34%	-32.58%
Current Drawdown Current decline from peak	-71.99%	-30.49%	-41.50%
Average Drawdown Average peak-to-trough decline	-17.70%	-27.02%	+9.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.91%	18.22%	+13.69%

Volatility

ARE vs. AMT - Volatility Comparison

Alexandria Real Estate Equities, Inc. (ARE) has a higher volatility of 13.76% compared to American Tower Corporation (AMT) at 7.26%. This indicates that ARE's price experiences larger fluctuations and is considered to be riskier than AMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARE	AMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.76%	7.26%	+6.50%
Volatility (6M) Calculated over the trailing 6-month period	32.49%	18.40%	+14.09%
Volatility (1Y) Calculated over the trailing 1-year period	43.53%	23.21%	+20.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.92%	26.23%	+6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.13%	26.12%	+3.01%

Dividends

ARE vs. AMT - Dividend Comparison

ARE's dividend yield for the trailing twelve months is around 7.96%, more than AMT's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMT American Tower Corporation	3.78%	3.87%	3.53%	2.99%	2.77%	1.78%	2.02%	1.64%	1.99%	1.84%	2.05%	1.87%
ARE Alexandria Real Estate Equities, Inc.	7.96%	9.56%	5.32%	3.91%	3.24%	2.01%	2.38%	2.48%	3.24%	2.64%	2.91%	3.38%

Financials

ARE vs. AMT - Profitability Comparison

The chart below illustrates the profitability comparison between Alexandria Real Estate Equities, Inc. and American Tower Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ARE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a gross profit of 446.88M and revenue of 671.02M. Therefore, the gross margin over that period was 66.6%.

AMT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported a gross profit of 2.02B and revenue of 2.74B. Therefore, the gross margin over that period was 73.9%.

ARE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported an operating income of 412.20M and revenue of 671.02M, resulting in an operating margin of 61.4%.

AMT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported an operating income of 1.16B and revenue of 2.74B, resulting in an operating margin of 42.4%.

ARE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a net income of 358.87M and revenue of 671.02M, resulting in a net margin of 53.5%.

AMT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported a net income of 836.80M and revenue of 2.74B, resulting in a net margin of 30.6%.

Frequently Asked Questions

Can I hold both ARE and AMT in my portfolio?

ARE and AMT have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARE or AMT?

ARE has higher volatility (13.76%) compared to AMT (7.26%). In terms of maximum drawdown, ARE dropped -77.92% vs AMT's -98.70%.

Which has better risk-adjusted returns?

AMT currently has the higher Sharpe Ratio (-0.49 vs -0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.