UPDATE: Alexandria Real Estate (ARE) Misses Q4 EPS by 2c, Beats on Revenues; Offers FY18 EPS Mid-Point Outlook Above Consensus
Alexandria Real Estate (NYSE: ARE) reported Q4 EPS of $0.38, $0.02 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $298.8 million versus the consensus estimate of $226.12 million.
Strong internal growth
Total revenues:
- $298.8 million, up 19.9%, for 4Q17, compared to $249.2 million for 4Q16
- $1.1 billion, up 22.4%, for 2017, compared to $921.7 million for 2016
- Continued substantial leasing activity and strong rental rate growth, in light of minimal contractual lease expirations for 4Q17 and 2017 and a highly leased value-creation pipeline:
GUIDANCE:
Alexandria Real Estate sees FY2018 EPS of $2.04-$2.24, versus the consensus of $2.11.
For earnings history and earnings-related data on Alexandria Real Estate (ARE) click here.