PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The Pasadena, California-based real estate investment trust said it had funds from operations of $197.1 million, or $1.75 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.75 per share.
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 a loss of $49.8 million, or 44 cents per share.
The life science real estate company posted revenue of $390.5 million in the period.
Alexandria Real Estate Equities expects full-year funds from operations in the range of $6.95 to $6.97 per share.
The company's shares have climbed 38% since the beginning of the year. In the final minutes of trading on Monday, shares hit $158.71, a rise of 31% in the last 12 months.