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

79.16

Mkt cap

12B

Volume

1.4M

High

79.16

P/E Ratio

34.14

52-wk high

90.11

Low

77.48

Div yield

0.05

52-wk low

52.61

Alexandria Real Estate Equities Inc. (ARE) is a REIT with a portfolio of 850 tenants in 430 properties devoted to life science, agtech and advanced technology companies. Despite the trend of tech workers leaving California, ARE maintains high occupancy rates. Its largest tenants include Bristol-Myers Squibb Co. (BMY), Moderna Inc. (MRNA), Eli Lilly and Co. (LLY), and Alphabet Inc. (GOOGL). ARE recently declared a $1.24 per share quarterly dividend. Despite disappointing full-year 2023 FFO estimates, analysts from Wedbush and Evercore ISI Group maintain an Outperform rating on ARE.

Portfolio Pulse from Ethan Roberts

October 05, 2023 | 3:19 pm

Shares of REITs are trading lower due to a rise in Treasury yields, which could lead to a rotation out of dividend-paying stocks.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 7:06 pm

Wedbush analyst Richard Anderson has initiated coverage on Boston Properties (NYSE:BXP) with a Neutral rating and a price target of $62.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:20 pm

A Bloomberg survey reveals a bleak outlook for the U.S. office real estate market, with a majority of respondents predicting a severe downturn before recovery. The $1.5 trillion commercial real estate debt due by 2025, particularly the 25% tied to office buildings, is at risk. The Federal Reserve's tightening campaign has increased financing costs and reduced commercial property values. Regional banks, holding about 30% of office building debt, are under stress. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) declined by 0.6% on Monday, reflecting the sector's turbulence. Several U.S. real estate stocks, including CBRE Group Inc. (NYSE:CBRE), Alexandria Real Estate Equities, Inc. (NYSE:ARE), Camden Property Trust (NYSE:CPT), SBA Communications Corp. (NASDAQ:SBAC), Boston Properties Inc. (NYSE:BXP), Vornado Realty Trust (NYSE:VNO), and Kilroy Realty Corp. (NYSE:KRC), have seen significant declines in their values.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 3:51 pm

Boston Properties Limited Partnership, the operating partnership of BXP, has exercised a $315M accordion feature, increasing its revolving credit facility capacity to over $1.8B.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:30 am

Compass Point analyst Floris Van Dijkum has initiated coverage on Boston Properties (NYSE:BXP) with a Neutral rating and a price target of $65.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 2:22 pm

Enel North America has signed a power purchase agreement with BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, for a 21-megawatt portion of the Estonian solar project under construction in Texas. The 202 MW solar project, paired with a 104 MW battery system, is expected to come online in late 2024. The agreement builds on a longstanding relationship between Enel and BXP for advanced energy solutions.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:17 pm

Truist Securities analyst Michael Lewis has maintained a 'Hold' rating on Boston Properties (NYSE:BXP) and raised the price target from $75 to $78.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:05 pm

In the last quarter, 9 analysts have provided ratings for Boston Props (NYSE:BXP), with 3 somewhat bullish, 5 indifferent, and 1 somewhat bearish. The company has an average 12-month price target of $68.89, with a high of $80.00 and a low of $52.00. The average price target has increased by 8.01% over the past month.

Portfolio Pulse from Benzinga Insights

September 12, 2023 | 12:01 pm

Keybanc analyst Upal Rana has initiated coverage on Boston Properties (NYSE:BXP) with a Sector Weight rating.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 8:41 am

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