It's easy to get bored with Motley Fool Income Investor selection HRPT Properties Trust
For the quarter, the company saw its revenue increase by 13.9% over last year's level, but higher operating expenses and general administrative expenses caused operating income to increase by only 5.6%. Moving down the income statement, funds from operations (FFO) decreased by 3.3% and FFO per share decreased by a slightly higher 6.3%, because of share issuances in the past year. Through the first six months of the year, FFO has increased by 4.8%, but FFO per share is down slightly because of share issuances.
HRPT counts on the U.S. government for 13.7% of its rental income and also has Comcast
Regardless of the level of excitement at HRPT, it is hard to argue with the 9.8% return subscribers have seen in just eight months (versus the market's 3.2% return). The bulk of this return can be attributed to picking up the shares when the yield was closer to 8% and when the share price was below the net asset value (NAV) estimate lead Income Investor analyst Mathew Emmert pegged for the company. Going forward, it will become important for HRPT to show modest growth in its FFO and dividend in order for the shares to continue outpacing the market in the long-term.
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