Alexandria Real Estate Equities reports 1Q results

PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a pivotal magnitude of profitability in a initial quarter. The formula kick Wall Street expectations.

The genuine estate investment trust, formed in Pasadena, California, pronounced it had supports from operations of $91.3 million, or $1.28 per share, in a period.

The normal guess of 6 analysts surveyed by Zacks Investment Research was for supports from operations of $1.27 per share.

Funds from operations is a closely watched magnitude in a REIT industry. It takes net income and adds behind equipment such as debasement and amortization.

The association pronounced it had net income of $17.8 million, or 25 cents per share.

The life scholarship genuine estate association posted income of $196.8 million in a period, also violence Street forecasts. Four analysts surveyed by Zacks approaching $194.8 million.

Alexandria Real Estate Equities expects full-year supports from operations to be $5.17 to $5.27 per share.

The company’s shares have climbed 5.5 percent given a commencement of a year. In a final mins of trade on Monday, shares strike $93.61, a arise of 28 percent in a final 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) regulating information from Zacks Investment Research. Access a Zacks batch news on ARE during http://www.zacks.com/ap/ARE

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Keywords: Alexandria Real Estate Equities, Earnings Report

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