Alexandria Real Estate Equities: 3Q Earnings Snapshot

PASADENA, Calif. (AP) _ Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.

The real estate investment trust, based in Pasadena, California, said it had funds from operations of $230.7 million, or $1.83 per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.83 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $79.3 million, or 63 cents per share.

The life science real estate company posted revenue of $545 million in the period.

Alexandria Real Estate Equities expects full-year funds from operations in the range of $7.29 to $7.31 per share.

The company's shares have fallen almost 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $156.83, a decrease of 1.5% in the last 12 months.

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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