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

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

BMO Capital Markets analyst John P. Kim has reiterated an Outperform rating on Boston Properties, Inc. (BXP), raising the price target to $80 from $75. Kim remains bullish on BXP's healthy leasing activity, particularly in Midtown Manhattan and Boston CBD. BXP's $2.55 billion pipeline is expected to deliver 4% CAGR in 2024-25. However, Kim notes that the uncertainty in the financing market is a cause for concern. For FY24 and FY25, the analyst expects total revenue to surge 1.87% to $3.38 billion and 2.49% to $3.36 billion respectively.

Portfolio Pulse from Nabaparna Bhattacharya

September 08, 2023 | 6:18 pm

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