Volatile stock to watch: Alexandria Real Estate Equities Inc (NYSE: ARE)

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Alexandria Real Estate Equities Inc (NYSE: ARE) stock fell over 1.4% on 29th October, 2019 (as of 29 Oct, 12:00 pm GMT-4; Source: Google finance) after the company posted third quarter of FY 19. The company has reported the Net operating income (cash basis) of $963.5 million for the third quarter of FY 19 annualized, up 11.1%, compared to the third quarter of FY 18 annualized.

Meanwhile, from the beginning of 4Q18, the company have placed into service 2.5 million RSF of development and redevelopment projects, that includes 1.3 million RSF in 3Q19. Significant near-term growth of annual net operating income (cash basis), including the share of unconsolidated real estate joint ventures, of $70 million upon the burn-off of initial free rent on recently delivered projects. the company has commenced the development and redevelopment projects aggregating 1.8 million RSF during YTD 3Q19, including three projects aggregating 447,998 RSF in 3Q19.  During YTD 3Q19, the company has already leased 1.2 million RSF of development and redevelopment space.

Moreover, during 3Q19, the company had completed the sales of partial interests in three properties for an aggregate sales price of $462.2 million and received aggregate consideration in excess of book value of approximately $180.2 million, which represents a weighted-average cash capitalization rate of 4.6%. Further, During the third quarter of FY 19, the company had completed the acquisitions of 11 properties for the total purchase price of $459.2 million. These acquisitions include future development and redevelopment opportunities, aggregating 537,850 RSF, that are strategically located across multiple markets, and operating properties aggregating 546,389 RSF, of which 111,080 RSF are existing vacant space that the company expect to lease-up in the future.

ARE in the third quarter of FY 19 has reported the adjusted funds from operations per share of $1.75, which is in line with the analysts’ estimates for the adjusted funds from operations per share of $1.75, according to Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 14.22 percent to $390.48 million in the third quarter of FY 19

Additionally, the company has declared dividend for the third quarter of FY 19 of $1 per common share, aggregating $3.94 per common share for the twelve months ended September 30, 2019, up or 8%, over the twelve months ended September 30, 2018

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