Alexandria Real Estate Equities Q2 FFO Rises - Quick Facts

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) Monday said second-quarter funds from operations, or FFO, increased to $71.6 million or $1.07 per share from $65.8 million or $1.07 per share in the same period last year.

Adjusted FFO for the quarter was $66.8 million or $1.00 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $1.06 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings attributable to common stockholders improved to $25.5 million or $0.38 per share from $17.6 million or $0.29 per share last year.

Net operating income from continuing operations improved 4.3 percent to $107.9 million from $103.5 million last year.

Revenues totaled $154.2 million, up 5.9 percent from $145.6 million last year. Analysts expected revenues of $151.07 million.

Looking ahead to the fiscal year 2013, the company has lowered its FFO outlook to a range of $4.32 to $4.42 per share from $4.35 to $4.45, issued previously. Adjusted FFO is expected to range between $4.35 and $4.45 per share. Analysts currently expect full-year FFO of $4.35 per share. Earnings for the fiscal 2013 is projected in a range of $1.53 to $1.63 per share, up from previous guidance range of $1.50 to $1.60 per share.