BioMed Realty Trust Earnings: Here’s Why Shares are Down Now

BioMed Realty Trust Inc. (NYSE:BMR) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.64%.

BioMed Realty Trust Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 15.63% to $0.37 in the quarter versus EPS of $0.32 in the year-earlier quarter.

Revenue: Rose 28.76% to $159.64 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: BioMed Realty Trust Inc. reported adjusted EPS income of $0.37 per share. By that measure, the company missed the mean analyst estimate of $0.39. It beat the average revenue estimate of $143.47 million.

Quoting Management: Commenting on the second quarter results, BioMed Realty’s Chairman and Chief Executive Officer, Alan D. Gold, remarked, “Our exceptional leasing performance in the second quarter of 898,000 square feet pushed our leasing volume well ahead of our full year target. Our sustained leasing success continues to provide the catalyst that drives our operating and financial results, with robust year-over-year increases in revenues and cash flows for the second quarter. Our team’s core competencies in singularly focusing on serving the needs of and building valuable relationships with the life science industry are the foundation of our superior top-line and bottom-line results and enterprise growth, which was enhanced during the second quarter with the addition of the Wexford Science & Technology team and platform. Together, we leverage the strongest team in the industry and continue to acquire, develop and operate the industry’s highest quality portfolio, attracting and supporting top-tier tenants to drive our growth over the balance of 2013 and beyond.”

Key Stats (on next page)…

Revenue increased 1.72% from $156.94 million in the previous quarter. EPS decreased 11.9% from $0.42 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.35 to a profit $0.34. For the current year, the average estimate has moved up from a profit of $1.45 to a profit of $1.48 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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