BXP's Q3 FFO per share matches estimates. Results reflect higher revenues amid healthy leasing activity.
The headline numbers for Boston Properties (BXP) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Boston Properties (BXP) came out with quarterly funds from operations (FFO) of $1.81 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.86 per share a year ago.
BXP's Q3 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.
BXP's Class A office assets are set to cater to the rising demand for premium office spaces, aiding strong leasing. Competition and huge development outlay are risks.
BXP, Inc. is an office REIT with "premier" properties in major U.S. metropolitan areas. The recent Fed rate cut and potential future cuts should lower interest expense and support new acquisitions. Its large cap clients give it durability in times of weakness, with leasing activity tracking the pace of earnings growth.
BXP, Inc.'s high-quality, centrally located, and young office portfolio positions it well to capture demand and maintain high occupancy rates. Easing macroeconomic pressures, such as declining interest rates and a shift away from remote work, benefit BXP's refinancing and long-term outlook. Despite risks like potential interest rate hikes and recession, BXP offers a solid 5% dividend yield and long-term price appreciation potential.
BXP is set to gain from a rise in demand for top-quality office spaces driven by technology, life science business and its prudent capital-management practices.
24/7 Wall St. Insights With bond yields falling, high-yield dividend stocks look enticing now.
BXP's assets in a few select markets, diversified tenant base, strategic expansions and a solid balance sheet position bode well for future growth.
Top owners of high-quality office properties were among a batch of public real-estate investment trusts that raised nearly $2.5 billion in debt and equity in the past week.
BXP, Inc. (NYSE:BXP ) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET Company Participants Helen Han - Vice President, Investor Relations Owen Thomas - Chairman and Chief Executive Officer Douglas Linde - President and Director Michael LaBelle - Executive Vice President, Chief Financial Officer and Treasurer Rodney Diehl - Executive Vice President, West Coast Regions Peter Otteni - Executive Vice President, Co-Head of the Washington, DC Region Jake Stroman - Executive Vice President, Co-Head of the Washington, DC Region Bryan Koop - Executive Vice President, Boston Region Hilary Spann - Executive Vice President, New York Region Conference Call Participants Nick Yulico - Scotiabank Steve Sakwa - Evercore ISI Michael Griffin - Citi John Kim - BMO Capital Markets Blaine Heck - Wells Fargo Camille Bonnel - Bank of America Connor Mitchell - Piper Sandler Caitlin Burrows - Goldman Sachs Vikram Malhotra - Mizuho Floris van Dijkum - Compass Point LLC Reny Pire - Green Street Peter Abramowitz - Jefferies Omotayo Okusanya - Deutsche Bank Upal Rana - KeyBanc Capital Markets Ronald Kamdem - Morgan Stanley Operator Good day, and thank you for standing by. Welcome to BXP's Second Quarter 2024 Earnings Conference Call.