PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $368.5 million, or $2.16 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $2.15 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 $1.08 billion, or $6.35 per share.
The life science real estate company posted revenue of $754.4 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $738.3 million.
For the year, the company reported funds from operations of $1.53 billion, or $2.33 per share. Revenue was reported as $3.03 billion.
The company’s shares have increased 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $57.16, a decrease of 44% in the last 12 months.
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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
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