Alexandria Real Estate Equities: Q3 Earnings Snapshot

PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.

The Pasadena, California-based real estate investment trust said it had funds from operations of $264.4 million, or $1.54 per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.52 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 $638.5 million, or $3.74 per share.

The life science real estate company posted revenue of $671.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $644.2 million.

Alexandria Real Estate Equities expects full-year funds from operations in the range of $6.38 to $6.42 per share.

The company's shares have declined 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.14, a drop of 44% 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