PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $396.4 million, or $2.33 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $2.29 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 $109.6 million, or 64 cents per share.
The life science real estate company posted revenue of $762 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $750.6 million.
Alexandria Real Estate Equities expects full-year funds from operations in the range of $9.16 to $9.36 per share.
The company’s shares have dropped 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $78.29, a fall of 37% 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
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
