BioMed (BMR) is a health care REIT that offers office and research space around key metropolitan areas. The company has 73 properties in its portfolio, servicing clients in the biotech, pharmaceutical and government research industries. Last week, shareholders saw a boost in their returns thanks to a 7.1% dividend increase that resulted in a 15-cent quarterly payout.
BioMed has been having a good year thanks to strong occupancy in its properties. With more than 90% of leases expiring well after 2012, this company has plenty of time before it needs to worry about filling vacant space. Likewise, its niche provides a client base that has to deal with exceptionally high switching costs, a factor that encourages lease renewals. And with plenty of lease income rolling into BioMed's coffers in 2010, this REIT should be able to keep up with its dividend outlays this year and beyond.
One of the funds that's counting on those dividends is the Northern Small-Cap Value Fund (NOSGX), which counts BioMed among its holdings. The fund's other positions include Rent-a-Center (RCII) and Sketchers (SKX).
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