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The Company is a real estate investment trust, or REIT, focused on acquiring, developing, owning, leasing and managing laboratory and office space for the life science industry.
Note on this pick:I bought in around $6.50. It was very obvious to me based on BMR's low amount of leverage, strong cash flows, and property portfolio that it was worth more than that. As I write this, it sells at $16. I believe it is still slightly undervalued even at this price. Based on cash flows, equity interest in assets, and other factors, I'd value this company somewhere between $20 - $28, just based on a quick glance. I do, however, have some concerns about the locations of their properties (many being in bubble markets), so I'd probably stay on the conservative end of that. I would not buy in at the current price. It's too expensive, in my view, when compared to other REITs. All the same, I plan on continuing my pick here on CAPS, especially since it pays out a sizable dividend. My strategy for CAPS on the REITs is buy-and-hold for life. If I see BMR tip over $25, I might consider ending my pick, but otherwise, I plan on keeping this pick forever.
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