Alexandria Real Estate Equities Reports Mixed Q4 Results
PASADENA, Calif. – Alexandria Real Estate Equities Inc. (ARE) reported its fourth-quarter earnings on Monday, meeting analysts' estimates for profitability.
The Pasadena, California-based real estate investment trust (REIT) announced funds from operations (FFO) of $411.8 million, or $2.39 per share, for the quarter. This aligned with the average estimate of six analysts surveyed by Zacks Investment Research.
FFO, a key metric in the REIT industry, is calculated by adding back depreciation and amortization to net income.
Alexandria Real Estate Equities reported a net loss of $64.9 million, or 38 cents per share.
Revenue for the period reached $788.9 million, falling short of the $789.1 million projected by five analysts polled by Zacks.
The company projects its full-year FFO to be in the range of $9.23 to $9.43 per share.
ARE shares have increased by approximately 5% year-to-date. The stock closed at $102.11 on Monday, down 17% over the past 12 months.