Alexandria Real Estate (ARE) Tops Q3 EPS by 1c
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Alexandria Real Estate Equities, Inc. Reports Third Quarter Ended September 30, 2016 Financial and Operating Results
October 31, 2016 4:10 PM EDTPASADENA, Calif., Oct. 31, 2016 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced financial and operating results for the third quarter ended September 30, 2016.
Key highlights:
Solid internal growth
Total revenues of $230.4 million, up 5.4%, for 3Q16, compared to $218.6 million for 3Q15; Executed leases for 683,307 rentable square feet ("RSF") during 3Q16, solid leasing activity in light of minimal contractual lease expirations at the beginning of 2016 and a highly leased value-creation pipeline; Rental rate increases of 28.2% and 16.2% (cash basis) during 3Q16 for lease renewals and... More