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Alexandria Real Estate Equities: 3Q Earnings Snapshot

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.


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