Alexandria Real Estate Equities, Inc. Reports Increase In Q3 Profit, Beats estimates

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $341.44 million, or $2.11 per share. This compares with $101.26 million, or $0.67 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.5% to $659.85 million from $547.76 million last year.

Alexandria Real Estate Equities, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $341.44 Mln. vs. $101.26 Mln. last year. -EPS (Q3): $2.11 vs. $0.67 last year. -Analyst Estimate: $0.68 -Revenue (Q3): $659.85 Mln vs. $547.76 Mln last year.