Alexandria Real Estate Equities (ARE) has reported a 602.68 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $41.71 million, or $0.29 a share in the quarter, compared with $5.94 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $130.58 million, or $1.48 a share compared with $97.08 million or $1.34 a share, a year ago.
Revenue during the quarter grew 25.35 percent to $270.88 million from $216.09 million in the previous year period.
Total expenses were $193.50 million for the quarter, up 6.98 percent or $12.63 million from year-ago period. Operating margin for the quarter expanded 1227 basis points over the previous year period to 28.57 percent.
Operating income for the quarter was $77.38 million, compared with $35.22 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $180.94 million compared with $141.20 million in the prior year period. At the same time, adjusted EBITDA margin improved 145 basis points in the quarter to 66.80 percent from 65.34 percent in the last year period.
Revenue from real estate activities during the quarter increased 27.35 percent or $57.67 million to $268.54 million.
Income from operating leases during the quarter surged 30.91 percent or $48.92 million to $207.19 million. Revenue from tenant reimbursements was $61.35 million for the quarter, up 16.63 percent or $8.75 million from year-ago period.
Other income during the quarter was $2.34 million, down 55.18 percent or $2.88 million from year-ago period.
Net receivables were stable over the past one year at $9.98 million on Mar. 31, 2017.
Investments stood at $394.47 million as on Mar. 31, 2017, up 24.77 percent or $78.31 million from year-ago.
Total assets grew 21.15 percent or $1,897.09 million to $10,868.63 million on Mar. 31, 2017. On the other hand, total liabilities were at $5,422.30 million as on Mar. 31, 2017, up 13.34 percent or $638.06 million from year-ago.
Return on assets moved up 32 basis points to 0.71 percent in the quarter. Return on equity was at 0.47 percent in the quarter against a negative 0.09 percent in the last year period.
Debt moves up
Total debt was at $4,430.69 million as on Mar. 31, 2017, up 8.29 percent or $339.19 million from year-ago. Shareholders equity stood at $5,435.01 million as on Mar. 31, 2017, up 30.24 percent or $1,261.93 million from year-ago. As a result, debt to equity ratio went down 17 basis points to 0.82 percent in the quarter.
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