Compared to Estimates, Alexandria Real Estate Equities (ARE) Q3 Earnings: A Look at Key Metrics

Core Insights - Alexandria Real Estate Equities (ARE) reported a revenue of $791.61 million for the quarter ended September 2024, reflecting a year-over-year increase of 10.9% [1] - The earnings per share (EPS) for the quarter was $2.37, significantly higher than the $0.13 reported in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $775.93 million by 2.02%, while the EPS fell short of the consensus estimate of $2.38 by 0.42% [1] Revenue Breakdown - Other income was reported at $15.86 million, surpassing the three-analyst average estimate of $11.32 million, marking a year-over-year increase of 153.5% [2] - Rental revenue reached $775.74 million, exceeding the three-analyst average estimate of $769.02 million, with a year-over-year growth of 9.6% [2] Earnings Performance - The diluted net earnings per share was $0.96, slightly above the average estimate of $0.90 based on four analysts [2] Stock Performance - Over the past month, shares of Alexandria Real Estate Equities have returned +0.5%, compared to a +4.5% change in the Zacks S&P 500 composite [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [2]