Alexandria Real Estate Equities may have a large number of biotech clients, but demand for its urban campuses will withstand an industry slowdown, said the company’s CEO Joel Marcus. Marcus added that 56% of Alexandria’s rent comes from investment grade tenants and he projects earnings growth for 2015 at 8% to 9%. He said increased M&A will also not hurt Alexandria’s long term fortunes because it generally holds long term leases and can quickly find tenants at its desirable urban campuses. Finally, Marcus said his board will likely raise the dividend at some point in 2015 to reward shareholders.
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