Alexandria Real Estate Equities: Q2 Earnings Snapshot

Alexandria Real Estate Equities: Q2 Earnings Snapshot

Roger Pettingell Sarasota Real Estate

PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Pasadena, California, said it had funds from operations of $338.8 million, or $2.10 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $269.3 million, or $1.67 per share.

The life science real estate company posted revenue of $643.8 million in the period.

Alexandria Real Estate Equities expects full-year funds from operations in the range of $8.38 to $8.44 per share.

The company’s shares have declined 33% since the beginning of the year. In the final minutes of trading on Monday, shares hit $150.29, a fall of 24% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARE at https://www.zacks.com/ap/ARE


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