Alexandria Real Estate Equities Inc.'s second-quarter funds from operations attributable to company common stockholders rose year over year to $166.7 million, or $1.63 per share, from $131.7 million, or $1.45 per share.
The office real estate investment trust's second-quarter AFFO totaled $167.9 million, or $1.64 per share, up from $136.2 million, or $1.50 per share, in the year-ago quarter.
The S&P Capital IQ consensus FFO-per-share estimate for the quarter was $1.64.
Revenues for the quarter totaled $325.0 million, up 19.0% on a yearly basis.
Looking ahead, the company expects full-year 2018 FFO per share in a range of $7.32 to $7.38, compared to its previous guidance range of $7.28 to $7.38. AFFO per share for the full year is expected in a range of $6.57 to $6.63, compared to an earlier guidance range of $6.52 to $6.62.
The S&P Capital IQ consensus FFO-per-share estimate for 2018 is $6.65.
Alexandria Real Estate said in its earnings release that in the second quarter and July, it purchased 14 properties and four land parcels for $662.9 million, including its $203.0 million acquisition of the Pfizer Inc.-occupied office building in New York City.
The company also sold a land parcel in Northern Virginia for $6.0 million in July.
In the second quarter, Alexandria Real Estate sold 2.5 million common shares under its at-the-market offering program for net proceeds of $300.8 million. In July, the company sold 703,625 common shares under its ATM program for $88.7 million in net proceeds. Alexandria Real Estate said it expects to file a new ATM program in the next few quarters.