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

64.98

Mkt cap

10B

Volume

1.2M

High

65.66

P/E Ratio

727.89

52-wk high

90.11

Low

64.39

Div yield

0.06

52-wk low

56.46

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

Piper Sandler analyst Alexander Goldfarb has maintained a Neutral rating on Boston Properties (NYSE:BXP) and reduced the price target from $66 to $60.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:40 pm

Shares of Real Estate Investment Trusts (REITs) are trading lower due to a rise in Treasury yields, which could put pressure on dividend-paying stocks.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 8:47 pm

Shares of REITs are trading higher amid a decline in US Treasury yields, which has lifted dividend-paying stocks in Friday's session.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:36 pm

Boston Properties has revised its FY23 FFO per share guidance from a range of $7.24-$7.29 to a narrower range of $7.25-$7.27.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 9:16 pm

Boston Properties (BXP) reported a Q3 FFO per share of $1.86, down 2.62% from $1.91 YoY. However, the company's quarterly sales of $824.28M beat the analyst consensus estimate of $810.45M by 1.71%, marking a 4.27% increase over sales of $790.52M from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:39 pm

A contraction in lending is leading to a rise in defaults across the commercial real estate (CRE) sector and a slowdown in new construction projects. Lenders are cutting back their exposure due to the Federal Reserve’s interest rate hikes. Commercial property construction starts are predicted to fall by 17% in 2023. The total volume of CRE loans held by banks fell in the first two weeks of October. The lending squeeze has affected office owners refinancing maturing loans at higher rates and other commercial borrowers in the apartment building and warehouse sectors. The VanEck Office and Commercial REIT ETF (NYSE:DESK), Vornado Realty Trust (NYSE:VNO), SL Green Realty Corp. (NYSE:SLG), and Boston Properties, Inc. (NYSE:BXP) saw their values tumble in October.

Portfolio Pulse from Piero Cingari

October 31, 2023 | 3:29 pm

Boston Props (NYSE:BXP) has received various analyst ratings in the last quarter, with 1 bullish, 3 somewhat bullish, 6 indifferent, and 1 somewhat bearish. The average 12-month price target for BXP over the last 3 months is $69.64, with a high of $80.00 and a low of $62.00. This average price target has increased by 5.16% over the past month.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 6:00 pm

Mizuho analyst Vikram Malhotra maintains a Buy rating on Boston Properties (NYSE:BXP) but lowers the price target from $85 to $68.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 4:46 pm

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