PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $203.4 million, or $1.77 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.78 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 net income of $199.6 million, or $1.74 per share.
The life science real estate company posted revenue of $408.1 million in the period.sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more
Alexandria Real Estate Equities expects full-year funds from operations to be $7.28 to $7.48 per share.
The company's shares have increased 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $164.81, an increase of 26% in the last 12 months.
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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