Alexandria Real Estate Equities, Inc. (NYSE:ARE) – Alexandria Real Estate: Q2 Earnings Insights

Shares in Real estate in Alexandria (NYSE: ARE) rose in after-market trading after the company released second quarter results.

Quarterly results

Earnings per share rose 6.63% year over year to $ 1.93, beating the estimate of $ 0.63.

Revenue of $ 509,619,000 grew 16.63% year over year, beating the estimate of $ 411,210,000.

Orientation aid

Earnings per share of $ 7.71 to $ 7.79 are expected for the coming fiscal year.

The company has not yet issued a sales forecast.

technology

52 week high: $ 197.12

The company’s 52-week low was $ 150.08

Price movement in the last quarter: increase of 10.65%

Company overview

Alexandria Real Estate Equities Inc is a real estate mutual fund primarily engaged in the acquisition, development and rental of urban offices in science and technology locations in the United States. The company is renovating offices, warehouses and building shell areas for its tenants in the vicinity of a high concentration of specialized research institutions and companies. The majority of Alexandria’s real estate portfolio is spread across the greater Boston and San Francisco areas. The company generates almost all of its income in the form of income from its tenant companies. Alexandria’s largest customers in terms of revenue are public biotechnology, multinational pharmaceutical, life science products, and academic and medical research institutions.