Alexandria Real Estate Equities: Q1 Earnings Snapshot
PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $324.6 million, or $2.05 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 a loss of $151.7 million, or 96 cents per share.
The life science real estate company posted revenue of $615.1 million in the period.
Alexandria Real Estate Equities expects full-year funds from operations in the range of $8.33 to $8.43 per share.
The company’s shares have fallen 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $193.40, a rise of nearly 8% in the last 12 months.