Alexandria Real Estate Equities Inc. (ARE) announced a key measure of its fourth quarter profitability on Monday.
The Pasadena, Calif.-based real estate investment trust said it had operating funds of $303.6 million, or $1.97 per share, during the period.
Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.
The company said it had net income of $72.8 million, or 47 cents per share.
The life sciences real estate company posted revenue of $576.9 million during the period.
For the year, the company reported funds from operations of $1.14 billion, or $7.76 per share. Revenue was reported at $2.11 billion.
Alexandria Real Estate Equities expects full year operating funds in the range of $8.26 to $8.46 per share.
Shares of the company are down 13% year-to-date. In the final minutes of trading on Monday, shares hit $194.84, up 17% over the past 12 months.
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
This story was originally published January 31, 2022 9:11 p.m.