Exhibit 99.1

 

 

Contact:

Joel S. Marcus

 

Chairman/Chief Executive Officer

 

Alexandria Real Estate Equities, Inc.

 

(626) 578-9693

 

Alexandria Real Estate Equities, Inc.

Reports

 

Fourth Quarter and Year Ended

December 31, 2011, Financial and

Operating Results

 

FFO Per Share Diluted of $1.10 for 4Q11 and $4.38 for 2011

EPS Diluted of $0.44 for 4Q11 and $1.73 for 2011

Highest Quarter and Year of Leasing Activity

 

PASADENA, CA. – February 7, 2012 – Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced financial and operating results for the fourth quarter and year ended December 31, 2011.

 

RESULTS

 

Funds from operations

 

FFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders for the three months ended December 31, 2011, was $67.8 million, or $1.10 per share (diluted), compared to FFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders before loss on early extinguishment of debt for the three months ended December 31, 2010, of $60.8 million, or $1.11 per share (diluted). FFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders before loss on early extinguishment of debt and non-cash impairment charge for the year ended December 31, 2011, was $266.0 million, or $4.50 per share (diluted), compared to FFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders before loss on early extinguishment of debt for the year ended December 31, 2010, of $224.5 million, or $4.40 per share (diluted).

 

 

 

Three Months Ended

 

Year Ended

 

 

 

December 31, 2011

 

December 31, 2010

 

December 31, 2011

 

December 31, 2010

 

 

 

(dollars in thousands, except per share amounts)

 

FFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders – diluted

 

$

67,804

 

$

58,474

 

$

258,635

 

$

179,764

 

Loss on early extinguishment of debt

 

 

2,372

 

6,485

 

45,168

 

Non-cash impairment charge

 

 

 

994

 

 

Impact of unvested restricted stock awards

 

 

(20

)

(69

)

(394

)

FFO (diluted), as adjusted

 

$

67,804

 

$

60,826

 

$

266,045

 

$

224,538

 

 

 

 

 

 

 

 

 

 

 

FFO per share (diluted), as adjusted

 

$

1.10

 

$

1.11

 

$

4.50

 

$

4.40

 

FFO per share (diluted)

 

$

1.10

 

$

1.07

 

$

4.38

 

$

3.52

 

 

 

 

 

 

 

 

 

 

 

Common dividends declared

 

$

0.49

 

$

0.45

 

$

1.86

 

$

1.50

 

Dividend payout ratio

 

45%

 

41%

 

42%

 

34%

 

 

Adjusted funds from operations

 

AFFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders for the three months ended December 31, 2011, was $55.4 million, or $0.90 per share (diluted), compared to AFFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders for the three months ended December 31, 2010, of $56.3 million, or $1.03 per share (diluted). AFFO attributed to Alexandria Real Estate Equities, Inc.’s common stockholders for the year ended December 31, 2011, was $246.9 million, or $4.18 per share (diluted), compared to AFFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders for the year ended December 31, 2010, of $217.7 million, or $4.50 per share (diluted).

 

 

 

Three Months Ended

 

Year Ended

 

 

 

December 31, 2011

 

December 31, 2010

 

December 31, 2011

 

December 31, 2010

 

 

 

(dollars in thousands, except per share amounts)

 

AFFO attributable to Alexandria Real Estate Equities, Inc.’s common stockholders

 

$

58,930

 

$

56,272

 

$

250,458

 

$

217,724

 

AFFO per share (diluted)

 

$

0.96

 

$

1.03

 

$

4.24

 

$

4.50

 

 

(more)

 


The following information was filed by Alexandria Real Estate Equities Inc (ARE) on Wednesday, February 8, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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