Alexandria Real Estate Equities, Inc. (ARE) on Monday reported first-quarter net income of $358.9 million or $2.10 per share, compared to a net loss of $11.6 million or $0.07 per share last year.
Funds from operations for the quarter were $636.9 million or $3.73 per share, compared to $281.6 million or $1.65 per share last year. On an adjusted basis, funds from operations for the quarter were $295.9 million or $1.73 per share, compared to $392.0 million or $2.30 per share last year.
Total revenues for the quarter were $671.0 million from $758.2 million last year.
Looking forward to the full year 2026, the company expects funds from operations of $6.30 to $6.50 per share, compared to the prior estimate of $6.25 to $6.55 per share.
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