Alexandria Real Estate beats estimates, boosts guidance

• Q1 FFO of $91.3M or $1.28 per share vs. $83.1M and $1.17 one year ago.
• NOI of $136.4M up 10.3%. Same-property NOI up 2.3%, up 7.8% on cash basis.
• Executed leases for 1M square feet in Q1. Occupancy for operating properties of 96.8% up 20 bps from a year ago.
• Operating margins of 69% flat from a year ago.
• 2015 FFO per share guidance is narrowed to a dime and boosted by $0.02 at the midpoint, now $5.17-$5.27.
• Conference call tomorrow at 3 ET
• Previously: Alexandria Real Estate Equities beats by $0.02, beats on revenue (April 27)
• ARE flat after hours