Alexandria Real Estate Equities, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Impairment for the Fourth Quarter of 2016; Provides Earnings Guidance for the Year Ending December 31, 2017
For the year, the company reported total revenues of $921,706,000 compared to $843,474,000 a year ago. Loss from continuing operations was $49,889,000 compared to income of $146,157,000 a year ago. Net loss attributable to the company common stockholders was $151,141,000 or $1.99 per basic and diluted share compared to income of $116,867,000 or $1.63 per basic and diluted share a year ago. FFO attributable to the company's common stockholders basic and diluted was $249,996,000 or $3.27 per basic and diluted share compared to $388,584,000 or $5.43 per basic and diluted share a year ago. Adjusted FFO attributable to the company common stockholders- diluted was $421.3 million or $5.51 per diluted share compared to $375.8 million or $5.25 per diluted share a year ago.
For the fourth quarter of 2016, the company reported impairment of real estate of $16,024,000 against $8,740,000 a year ago.
The company provided earnings guidance for the year ending December 31, 2017. The company expects earnings per diluted share to be in the range of $1.49 to $1.69. The company expects depreciation and amortization per share of $4.45. The company expects funds from operations per share $5.90 to $6.10. The company expects net cash provided by operating activities after dividends to be $115 million to $135 million and at mid-point company expects net cash provided by operating activities after dividends of $125 million.