BioMed Realty's (NYSE:BMR) FFO Growth Supported by Acquisitions, Future Lease-Up

Led by strong future lease-up and recent acquisitions, FBR sees the FFO growth finding support at BioMed Realty (NYSE:BMR).

FBR says, "Our investment thesis remains focused on the substantial future lease-up within the company’s portfolio, most notably Pacific Research Center, as the total portfolio was 75.6% leased as of September 30, 2010. However, recent acquisitions, totaling $675 million in 2010, have provided FFO accretion. Our $19.50 price target currently implies a 6.6% potential return, which compares to our RMZ expectation of 8.2%, warranting a Market Perform rating.

"We are revising our FY 2010, 2011, 2012, and 2013 FFO per share estimates to $1.15, $1.19, $1.32, and $1.48, respectively."

FBR Capital maintains a "Market Perform" on BioMed Realty, which closed Thursday at $18.18, down $0.12, or 0.66 percent. FBR has a price target of $19.50 on BioMed.