Alexandria Raises Full-year Outlook; Signs A 15-year Full Binding Lease With Moderna

(RTTNews) - California-based real estate company Alexandria Real Estate Equities, Inc. (ARE), on Monday raised its full-year earnings outlook to $3.91 to $3.93 per share. On an adjusted basis, the company forecast for the earnings is between $7.74 and $7.76 per share. On average, seven analysts polled by Thomson Reuters are expecting earnings of $3.78 per share for the full year. Previously, the company expected earnings of $3.46 to $3.54 per share, or $7.71 to $7.79 per share excluding special items. Alexandria also reported signing a 15-year deal with a pharmaceutical company, Moderna, Inc (MRNA) to construct, develop and manage the company’s research and development facility at 325 Binney Street. The facility is going to be a 462,100 RSF property and will also be the most sustainable laboratory facility in Cambridge. This is the biggest life-science deal Alexandria Real Estate has signed in the history of the company.