Benzinga | Jul 26, 2021 04:57PM EDT

Alexandria Real Estate: Q2 Earnings Insights

Shares of Alexandria Real Estate (NYSE:ARE) moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 6.63% year over year to $1.93, which beat the estimate of $0.63.

Revenue of $509,619,000 higher by 16.63% year over year, which beat the estimate of $411,210,000.

Guidance

The upcoming fiscal year's EPS expected to be between $7.71 and $7.79.

Revenue guidance hasn't been issued by the company for now.

Technicals

52-week high: $197.12

Company's 52-week low was at $150.08

Price action over last quarter: Up 10.65%

Company Overview

Alexandria Real Estate Equities Inc is a real estate investment trust primarily engaged in the acquisition, development, and leasing of urban offices on science and technology campuses throughout the United States. The company redevelops offices, warehouses, and shell space for its tenants in areas close to high concentrations of specialized research institutions and businesses. The majority of Alexandria's real estate portfolio is split between the Greater Boston and San Francisco areas. The company derives nearly all of its income in the form of revenue from its tenant companies. Alexandria's largest customers in terms of revenue are public biotechnology, multinational pharmaceutical, life science product, and academic and medical research entities.