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.
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
Keywords: Alexandria Real Estate Equities, Earnings Report