Jan 29 (Reuters) - Life science real estate investment trust (REIT) Alexandria Real Estate Equities missed analysts' expectations for quarterly funds from operations (FFO) on Monday, hurt by lower occupancy rates.

Alexandria reported FFO, a key measure of performance of a REIT, of $2.28 per share in the fourth quarter, compared with $2.14 a year earlier and LSEG estimates of $2.29.

The Pasadena, California-based company operates and develops life science laboratories, offices and technology campuses across North America. Its clients include Bristol-Myers Squibb , Moderna and Eli Lilly, along with agricultural tech companies and research institutions.

Alexandria's occupancy of operating properties in North America as of Dec. 31, 2023 stood at 94.6% compared with 94.8% a year earlier.

The life science REIT, however, expects full-year 2024 FFO to be in the range of $9.37 to $9.57 per share, the mid-point of which is above analysts' average estimate of $9.41, according to LSEG data.

The REIT's total revenue for the fourth quarter was $757.2 million, versus $670.3 million a year ago. (Reporting by Rupali Chaudhary and Aatreyee Dasgupta in Bengaluru; Editing by Krishna Chandra Eluri and Shilpi Majumdar)