Thinking Of Buying Boston Properties? Here Are The Properties And Tenants You'd Add To Your Portfolio
Portfolio Pulse from Ethan Roberts
Boston Properties Inc. (BXP) is a well-diversified office REIT with 54.5 million square feet in 192 properties concentrated among six of the largest U.S. cities. As of March 31, BXP had 91% of its in-service properties leased, with a weighted average lease term of 7.6 years. Its top four tenants, Salesforce, Alphabet, Biogen, and Akamai Technologies, account for about 11% of the total annualized base rent. BXP has $15.7 billion in debt and pays a quarterly dividend of $0.98 per share.
June 07, 2023 | 3:49 pm
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NEUTRAL IMPACT
Akamai Technologies is one of the top tenants of Boston Properties.
Akamai Technologies' tenancy with Boston Properties is a positive factor for both companies, but it is not a major driver for Akamai's stock price. The impact of this news on Akamai's stock price is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Biogen is one of the top tenants of Boston Properties, contributing 2.61% of the total annualized base rent.
Biogen's tenancy with Boston Properties is a positive factor for both companies, but it is not a major driver for Biogen's stock price. The impact of this news on Biogen's stock price is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Boston Properties is a well-diversified office REIT with strong tenants and a 91% lease rate. It pays a quarterly dividend of $0.98 per share and has $15.7 billion in debt.
Boston Properties has a well-diversified tenant base, which reduces the risk of rental income loss. However, the company has a significant amount of debt, which could impact its financial stability. The dividend yield is attractive, but the lack of dividend growth and potential headwinds from the changing office landscape make the short-term impact neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Salesforce is one of the top tenants of Boston Properties, contributing 3.43% of the total annualized base rent.
Salesforce's tenancy with Boston Properties is a positive factor for both companies, but it is not a major driver for Salesforce's stock price. The impact of this news on Salesforce's stock price is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Alphabet is one of the top tenants of Boston Properties, contributing 2.81% of the total annualized base rent.
Alphabet's tenancy with Boston Properties is a positive factor for both companies, but it is not a major driver for Alphabet's stock price. The impact of this news on Alphabet's stock price is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Boston Properties has a lower short interest (5.52%) compared to rival office REIT SL Green Realty Corp. (27.06%).
The lower short interest in Boston Properties compared to SL Green Realty Corp. indicates that investors are less bearish on BXP. However, this information alone is not enough to drive a significant short-term impact on SL Green Realty Corp.'s stock price.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50