Alexandria Real Estate Equities: Q2 Earnings Snapshot
By AP News
Published - Jul 24, 2023, 04:36 PM ET
Last Updated - Jul 24, 2023, 04:36 PM EDT
PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Pasadena, California, said it had funds from operations of $382.4 million, or $2.24 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $2.20 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.
