Alexandria Real Estate Shares: Fourth Quarter Earnings Report

PASADENA, California (AP) _ Alexandria Real Estate Equities Inc. (ARE) reported a key fourth-quarter profit on Monday. The results beat Wall Street’s expectations.

The Pasadena, California-based real estate investment fund said it had $353.6 million in operating funds, or $2.14 per share, during the period.

The average estimate from three analysts polled by Zacks Investment Research was $2.13 per share for operating funds.

Funds from operations is a metric that is closely monitored in the REIT industry. He takes net income and adds items such as depreciation and amortization.

The company said its net income was $51.8 million, or 31 cents per share.

The life sciences real estate company generated $670.3 million in revenue for the period.

For the year, the company reported cash from operations of $1.36 billion, or $8.42 per share. Revenue was $2.59 billion.

Alexandria Real Estate Equities expects annual operating income of $8.86 to $9.06 per share.

The company’s shares are up 8% since the beginning of the year. In the last minutes of trading on Monday, the stock hit $157.38, down 17% from the past 12 months.

_____

This story was created by Automated Insights (using data from Zacks Investment Research. Access the Zacks ARE stock report at

Content Source

California Press News – Latest News:
Los Angeles Local News || Bay Area Local News || California News || Lifestyle News || National news || Travel News || Health News

Related Articles

Back to top button