HRPT Properties Trust

HRPT Properties Trust investor spending REIT dividends in tropics

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HRPT Properties Trust is a REIT (real estate investment trust) that primarily invests in office buildings. They own $6.3 billion worth of office and industrial space -- 65 million square feet, in 37 states. They trade on the New York Stock Exchange under the ticker symbol HRP.

HRPT Properties Trust Office Buildings

HRP was founded in 1986, and originally went public as a REIT that specialized in healthcare facilities. In the 1990s they converted their business model to office buildings, though that includes leasing 17 million square feet of commercial and industrial land in Oahu Hawaii.

They formed a subsidiary named Hospitality Properties Trust (HPT) that owns hotels and a subsidiary named Senior Housing Properties Trust (SNH), a REIT specializing in senior living properties. Both of these subsidiaries are now independent companies.

They have been rated investment-grade since 1994. Their business strategy to focus on both security and growth. Because of this, they like to lease to governments and medical facilities. They believe that these types of tenants are less affected by business cycles and are willing to sign longer term leases. They seek high credit quality tenants.

They buy well leased and maintained properties. Properties they own include: Inverness in Englewood Colorado, Gateway Medical Group in Anaheim California, IRS Service Center in Fresno California, Bradshaw Business Parks in Rancho Cordova California, 1921 East Alton Avenue in Santa Ana California, West Park 1 in St Louis Missouri, 1285 Fern Ridge Parkway in St Louis Missouri, 1717 Deerfield in Deerfield Illinois, and the American Founders Building in Austin Texas.

They have a dividend reinvestment plan, and several series of preferred stock.

HRPT Properties Trust is a REIT well positioned to benefit from the growth of the entire United States.

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