Boston Properties (BXP) came out with quarterly funds from operations (FFO) of $1.64 per share, missing the Zacks Consensus Estimate of $1.65 per share. This compares to FFO of $1.73 per share a year ago.
BXP's Q1 earnings are likely to have been boosted by healthy demand for premium office assets. However, high competition and interest expenses might have hurt.
Boston Properties offers a 5.7% dividend yield, with properties in prime locations, making it attractive despite challenges in the office real estate market. Office space demand has declined, but high-quality A locations remain stable, presenting opportunities as BXP leases to financially strong Fortune 500 clients. Rising interest rates and debt refinancing pose risks, but potential rate cuts and stable rental income could improve financials and investor confidence.
To boost its residential portfolio, BXP collaborates with CrossHarbor Capital, Albanese Organization and its partner to develop a $400M residential unit.
Boston Properties (BXP) reported earnings 30 days ago. What's next for the stock?
BXP is set to gain from a premium office portfolio, a diverse tenant base, strong lab asset demand and a healthy balance sheet despite high supply.
BXP, Inc. (NYSE:BXP ) Q4 2024 Earnings Call Transcript January 29, 2025 10:00 AM ET Company Participants Helen Han - Vice President, Investor Relations Owen Thomas - Chairman and Chief Executive Officer Doug Linde - President and Director Mike LaBelle - Executive Vice President, Chief Financial Officer and Treasurer Rodney Diehl - Executive Vice President, West Coast Regions Jake Stroman - Executive Vice President, Co Head of the Washington, DC Region Hilary Spann - Executive Vice President, New York Region Bryan Koop - Executive Vice President, Boston Region Conference Call Participants Steve Sakwa - Evercore ISI Andrew Berger - Bank of America Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Nick Yulico - Scotiabank Michael Goldsmith - UBS Floris Dijkum - Compass Point LLC Michael Griffin - Citi Richard Anderson - Wedbush Securities Blaine Heck - Wells Fargo Caitlin Burrows - Goldman Sachs Upal Rana - KeyBanc Capital Markets Dylan Burzinski - Green Street Michael Lewis - Truist Securities Omotayo Okusanya - Deutsche Bank Jamie Feldman - Wells Fargo Operator Good day. And thank you for standing by.
Strong leasing activity in the fourth quarter of 2024 highlights healthy demand for BXP's properties.
BXP's Q4 FFO per share matches estimates. Results reflect higher revenues amid healthy leasing activity.
While the top- and bottom-line numbers for Boston Properties (BXP) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Boston Properties (BXP) came out with quarterly funds from operations (FFO) of $1.79 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.82 per share a year ago.
BXP's Q4 earnings are likely to have been hurt by an elevated supply of office properties and high interest expenses despite healthy demand for premium office assets.