REIT Alexandria Real Estate posts higher Q4 FFO on resilient leasing demand

Alexandria Real Estate Equities

27/01/2025 21:59

Jan 27 (Reuters) - Alexandria Real Estate Equities
 ARE.N  posted a rise in its fourth-quarter funds from
operations on Monday, as the real estate investment trust
benefited from steady leasing demand from biotech clients and
technology-focused firms.
    The Pasadena, California-based company operates and develops
life science laboratories, offices and technology campuses
across North America. 
    Its clients include Bristol Myers Squibb  BMY.N , Moderna
 MRNA.O  and Eli Lilly  LLY.N , as well as agricultural tech
companies and research institutions.
    Occupancy of Alexandria's operating properties held steady
at 94.6% as of Dec. 31, compared with the year earlier.
    FFO, a key performance measure for REITs, came in at $411.8
million, or $2.39 per share, for the quarter, compared with
$389.8 million, or $2.28 per share, a year ago.
    Its total revenue for the quarter rose 4.2% to $788.9
million.

 (Reporting by Aatreyee Dasgupta and Nathan Gomes in Bengaluru;
Editing by Shilpi Majumdar)
 ((Aatreyee.Dasgupta@thomsonreuters.com))