Streetbeat News

BXP

Boston Properties, Inc.

https://www.bostonproperties.com

Industry

REIT - Office

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.

Open

82.74

Mkt cap

13B

Volume

1.3M

High

83.13

P/E Ratio

36.04

52-wk high

90.11

Low

82.03

Div yield

0.05

52-wk low

50.64

U.S. office space vacancies have reached their highest levels since 1979, with nearly 20% unleased in major cities by Q4 2023. The rise is attributed to overbuilding in the past and the shift to home and hybrid work models post-COVID-19. Texas cities like Houston, Dallas, and Austin face the highest vacancy rates, impacting local REITs such as Crown Castle Inc (CCI), which saw a 15.5% decline in 2023. Conversely, Boston Properties, Inc (BXP) in areas with lower vacancies saw a 5.3% increase. The article also compares U.S.-based REITs, like those in the Vanguard Real Estate Index Fund ETF (VNQ), which rose 6.2%, to the Vanguard Global ex-U.S. Real Estate Index Fund ETF (VNQI), with a smaller gain of 1.2%, reflecting challenges in the global market, particularly in China.

Portfolio Pulse from Neil Dennis

January 08, 2024 | 8:09 pm

On CNBC, Jenny Harrington recommended commercial real estate stocks, specifically naming Boston Properties (BXP), SL Green Realty Corp (SLG), and Vornado Realty Trust (VNO) as her picks.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 5:42 pm

Jefferies analyst Peter Abramowitz upgraded Boston Properties (NYSE:BXP) from Hold to Buy and increased the price target from $57 to $80, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 10:41 am

Boston Properties (NYSE:BXP) received mixed ratings from 5 analysts, with 1 bullish and 4 indifferent. The average 12-month price target is now $66.4, down from $70.33, with a high estimate of $77.00 and a low of $60.00. Analyst actions include both raised and lowered price targets. Boston Props's financials show a market cap above industry average, a 4.27% revenue growth, a net margin of -13.57%, an ROE of -1.89%, an impressive ROA of -0.45%, and a high debt-to-equity ratio of 2.69.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 7:01 pm

Piper Sandler analyst Alexander Goldfarb has maintained a Neutral rating on Boston Properties (BXP) and increased the price target from $60 to $77.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 6:53 pm

Boston Properties (NYSE:BXP) has seen a 9.33% decrease in short interest since its last report, with 8.26 million shares sold short, representing 7.19% of its float. The average time to cover these short positions is 4.61 days. A decrease in short interest can indicate a more bullish sentiment among investors. Compared to its peers, BXP has a lower short interest as a percentage of float, with the peer group average at 9.92%.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 4:45 pm

The article discusses three real estate stocks with high dividend yields, as rated by Wall Street's most accurate analysts. Medical Properties Trust, Inc. (MPW) has a dividend yield of 17.96% but received an Underweight rating from JP Morgan and a downgrade from Raymond James. Boston Properties, Inc. (BXP) offers a 6.88% yield, with BMO Capital maintaining an Outperform rating and JP Morgan maintaining an Underweight rating. National Health Investors, Inc. (NHI) has a 6.61% yield, with Wells Fargo maintaining an Equal-Weight rating and Jefferies initiating coverage with a Hold rating.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 10:29 am

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' provided his opinions on several stocks. He rejected Lucid Group (LCID) in favor of Rivian Automotive (RIVN). He called Twist Bioscience (TWST) very speculative, preferred Boston Properties (BXP) over SL Green Realty (SLG), and praised Boise Cascade (BCC) as a play on housing. Cramer recommended Toyota Motor (TM) and described Cboe Global Markets (CBOE) as fantastic. He expressed concerns about Sirius XM (SIRI), called Xcel Energy (XEL) good, and endorsed NICE Ltd. (NICE) and Schlumberger (SLB). He was optimistic about Conagra Brands (CAG) despite challenges and favored Wynn Resorts (WYNN) over Gaming and Leisure Properties (GLPI).

Portfolio Pulse from Lisa Levin

November 21, 2023 | 2:54 pm

Boston Properties Inc (BXP) has sold a 45% stake in two life sciences development properties in Cambridge, Massachusetts, to Norges Bank Investment Management for approximately $1.66 billion. BXP retains a 55% interest and will continue to provide development, property management, and leasing services. The deal will reduce BXP's future development spend by about $533.5 million. BXP recently reported a Q3 FFO per share of $1.86 and sales of $824.28 million, surpassing consensus estimates. BXP shares have risen 10.6% to $56.67.

Portfolio Pulse from Lekha Gupta

November 14, 2023 | 5:45 pm

Boston Properties, Inc. (BXP) has agreed to sell a 45% interest in two life sciences development properties located in Kendall Square, Cambridge, Massachusetts, to Norges Bank Investment Management. The transaction values the properties at a gross valuation of $1.66 billion, which equates to approximately $2,050 per square foot.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 11:07 am

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