Alexandria Real Estate Equities on Monday reported mixed results for the quarter, with adjusted earnings in line with Wall Street estimates but revenue growth was better than expected.

The Los Angeles real estate investment trust reported net income of $21.1 million (66 cents per share), compared with $22.3 million (70 cents) a year ago. Revenues rose 18 percent to nearly $127 million.

The results included non-cash impairment charges of $17.9 million and gains on sales of properties aggregating $20.4 million.

The adjusted earnings, known in the REIT world as funds from operations, take amortization and depreciation into account, and were $49.5 million ($1.55), compared with $46.3 million ($1.46) a year ago.

Analysts surveyed by Thomson First Call on average expected FFO of $1.55 per share on revenue of $114 million.

Alexandria shares were up 53 cents, or less than 1 percent, in morning trading on the New York Stock Exchange.