Alexandria Real Estate Q1 2024 AFFO $2.35 Beats $2.33 Estimate, Sales $769.100M Beat $762.903M Estimate
Portfolio Pulse from Benzinga Newsdesk
Alexandria Real Estate Equities, Inc. (ARE) reported Q1 2024 AFFO of $2.35 per share, surpassing the consensus estimate of $2.33. Quarterly sales reached $769.1M, exceeding estimates of $762.903M and marking a 9.75% increase from the previous year.
April 22, 2024 | 8:13 pm
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Alexandria Real Estate Equities, Inc. (ARE) exceeded Q1 2024 AFFO and sales estimates, showing strong financial performance and growth.
Beating both AFFO and sales estimates indicates strong operational efficiency and market demand for ARE's real estate portfolio. This positive earnings report is likely to instill investor confidence and could lead to a short-term uptick in ARE's stock price, given the better-than-expected financial performance and year-over-year growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100