04:37 PM EDT, 04/22/2024 (MT Newswires) -- Alexandria Real Estate Equities ( ARE ) reported Q1 adjusted funds from operations Monday of $2.35, up from $2.19 a year earlier.

Analysts polled by Capital IQ expected $1.83.

Revenue for the quarter ended March 31 was $769.1 million, up from $700.8 million a year earlier.

Analysts surveyed by Capital IQ expected $766.7 million.

The company increased its full-year 2024 adjusted funds from operations guidance to $9.41 to $9.53 per share from between $9.37 and $9.57 a share. Analysts expect $7.53.

The company's shares were up 2% in after-hours activity.