Alexandria Real Estate Equities Inc. recently revealed Q2 numbers, and according to BTIG, the funds from operations were higher than the firms estimate. The company celebrated its 20th anniversary as an NYSE listed REIT and achieved a total shareholder return of 1,218%, assuming reinvestment of dividends, from its initial public offering in May 1997 through 2Q17.
Common stock dividend for 2Q17 of $0.86 per common share, up 3 cents, or 4%, over 1Q17; continuation of the REIT’s strategy to share growth in cash flows from operating activities with our stockholders while also retaining a significant portion for reinvestment.
BTIG says that NOI was $0.06 higher than its estimate after adjusting for $0.05 of impairments related to the company’s investments in life science companies. “Given the strong outperformance on the NOI line, we consider Alexandria’s 2Q17 operating results a high-quality beat.”
Total revenues for the REIT was $273.1 million, up 20.8%, for 2Q17, compared to $226.1 million for 2Q16, and total revenues of $543.9 million, up 23.0%, for YTD 2Q17, compared to $442.2 million for YTD 2Q16.
During 2Q17, the REIT sold an aggregate of 2.1 million shares of common stock under its ATM program for gross proceeds of $245.8 million, or $118.97 per share, and net proceeds of approximately $241.8 million.