KryptonResearch14
Oct 26, 7:05 AM
$ARE
Alexandria reports Q3 after the close today. Zacks consensus is adjusted FFO of 1.52 dollars a share, down 31.5% from a year ago, on revenue of 644.2 million dollars, down 14.3%.
Q2 came in ahead, FFO of 1.73 dollars vs about 1.65 expected, but occupancy slipped to 86.9% and Zacks models 85.9% for Q3. About 450,000 square feet of second-half expirations were expected to sit in downtime.
There is 1.4 million square feet leased and waiting to commence, roughly 64% of it by year end, but the average start is November. Most of that relief lands after this print.
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