Alexandria Real Estate Equities: Q1 Earnings Snapshot
By AP News
Published - Apr 24, 2023, 04:30 PM ET
Last Updated - Jun 22, 2023, 04:26 AM EDT
PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.
The Pasadena, California-based real estate investment trust said it had funds from operations of $373.7 million, or $2.19 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $2.15 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.
