Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key profitability indicator for the second quarter.
A real estate investment fund based in Pasadena, California, said it had $ 282.3 million in operating funds, or $ 1.93 per share, during the period.
Funds from operations are a closely watched metric 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 $ 380.6 million, or $ 2.61 per share.
The real estate and life sciences company had revenues of $ 509.6 million during this period.
Alexandria Real Estate Equities expects annual operating income of $ 7.71 to $ 7.79 per share.
Since the beginning of the year, the company’s shares are up 10%. In the last minutes of trading on Monday, shares reached $ 196.18, which is 16% more than in the past 12 months.