Alexandria Real Estate Equities Q3 Profit Rises - Quick Facts

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) reported that its third-quarter net income attributable to stockholders increased to $24.6 million, or $0.35 per share, from $10.6 million, or $0.17 per share, last year. Funds from operations attributable to stockholders as adjusted was $75.0 million, or $1.06 per share, compared to $67.1 million, or $1.08 per share, prior year. Adjusted funds from operations attributable to stockholders was $70.2 million, or $0.99 per share, for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.

Total revenues from continuing operations rose to $158.6 million from $142.9 million, a year ago. Analysts expected revenue of $158.20 million for the quarter.

Alexandria Real Estate Equities updated its guidance for the year ended December 31, 2013. The company now expects its earnings per share in the range of $1.54-$1.58; FFO per share in the range of $4.35-$4.39; and FFO per share as adjusted in the range of $4.38-$4.42. Analysts expect the company to report full year profit per share of $4.36.