Revenue Rises at BioMed Realty TrustMonday, November 5, 2012
BioMed Realty Trust Inc. saw total revenue rise 17.4 percent from a year ago, to $134.5 million, in its third quarter ending Sept. 30, the San Diego-based investment firm reported.
Adjusted funds from operations available to common shares, an industry metric gauging the performance of real estate portfolios, was up 30 percent, to $55.6 million, amounting to an increase of 10 percent on a per-share basis.
The real estate investment trust’s net income available to common stockholders was down 42 percent, to $2.8 million.
The company said its national portfolio of life-sciences properties stood at 13.1 million rentable square feet at the end of the third quarter, with an additional 4 million square feet available for potential development. The portfolio was approximately 90.5 percent leased as of Sept. 30.
BioMed has headquarters in Rancho Bernardo and trades under the symbol BMR on the New York Stock Exchange.
-- SDBJ Staff Report