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 matched Wall Street expectations.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $411.8 million, or $2.39 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $2.39 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 $64.9 million, or 38 cents per share.
The life science real estate company posted revenue of $788.9 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $789.1 million.
Alexandria Real Estate Equities expects full-year funds from operations in the range of $9.23 to $9.43 per share.
The company's shares have climbed roughly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $102.11, a drop of 17% 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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