Alexandria Real Estate Q2 FFO Rises; Cuts FY14 EPS Outlook - Quick Facts

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) Monday said second-quarter funds from operations, or FFO, attributable to company stockholders increased to $84.5 million or $1.19 per share from $71.0 million or $1.06 per share in the same period last year.

Adjusted FFO attributable to the company stockholders was $84.5 million or $1.19 per share, up from $71.6 million or $1.07 per share in the prior year quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report FFO of $1.15 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to the company increased to $27.9 million or $0.39 per share from $25.5 million or $0.38 per share last year.

Revenues were $176.40 million, up from $153.93 million last year. Analysts expected revenues of $176.88 million.

Looking ahead to the fiscal 2014, the company now expects earnings in the range of $1.63 to $1.69 per share, FFO in the range of $4.73 to $4.79 per share and adjusted FFO per share of $4.74 to $4.80.

Earlier, the company expected earnings in the range of $1.75 to $1.85 per share and FFO of $4.70 to $4.80 per share.

Analysts currently expect full-year FFO of $4.77 per share.