Alexandria Real Estate Equities: Q4 Earnings Snapshot

PASADENA, Calif. (AP) — 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 $389.8 million, or $2.28 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.29 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 a loss of $91.9 million, or 54 cents per share.

The life science real estate company posted revenue of $757.2 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $739.3 million.

For the year, the company reported funds from operations of $1.53 billion, or $8.97 per share. Revenue was reported as $2.89 billion.

Alexandria Real Estate Equities expects full-year funds from operations in the range of $9.37 to $9.57 per share.

The company's shares have decreased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $126.44, a drop of 21% in the last 12 months.

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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