Shares of Alexandria Real Estate Equities Inc. (ARE) have jumped nearly 7% so far today after the company raised its full-year outlook.
The real estate investment trust (REIT) now expects funds from operations (FFO) of $5.60 per share, compared to the earlier prediction of $5.43 per share.
The revised guidance is higher than the Zacks Consensus Estimate, derived from 10 covering analysts, of $5.45 per share, which has remained constant over the past 2 months.
Meanwhile, second-quarter FFO came in at $1.59 per share, beating the Zacks Consensus Estimate by nearly 12%.
Revenue expanded 11.6% to $121.4 million.
ARE, a Zacks #3 Rank (“Hold”) stock, is trading on higher-than-usual volume of approximately 2 million, against the average daily volume of about 1.1 million.
“ARE” Free Stock Analysis: Buy? Sell? Hold?
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