San Diego Business Journal

BioMed Realty Revenue, Net Income Rise in Second Quarter

By Lou Hirsh Thursday, August 7, 2014

BioMed Realty Trust Inc. saw total revenue rise 7 percent from a year ago in its second quarter ending June 30, reaching $171.2 million, the San Diego-based company reported.

Officials said total revenue and rental revenue, at $120.9 million, both set quarterly records for the real estate investment trust.

Net income available to common stockholders rose 26 percent from a year ago, reaching $18.6 million. Adjusted funds from operations, an industry-recognized supplemental metric gauging real estate portfolio performance, totaled $67.3 million, down from $73.9 million in the year-ago quarter.

The company added approximately 1 million square feet to its portfolio during the quarter, through its investment in properties adjacent to the Yale School of Medicine in Connecticut.

Headquartered in Rancho Bernardo, BioMed Realty Trust (NYSE: BMR), invests primarily in properties that are used in the life-sciences industry, with tenants that include biotechnology and pharmaceutical companies, education and research institutions, and government agencies. Its portfolio totals more than 17 million rentable square feet.