BXP's Q3 FFO Meets Estimates, Lease Revenues Increase Y/Y

Zacks10-30

Boston Properties BXP reported third-quarter 2024 funds from operations (FFO) per share of $1.81, in line with the Zacks Consensus Estimate. However, the reported figure declined 2.7% year over year. ...

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However, the reported figure declined 2.7% year over year.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/bxps-q3-ffo-meets-estimates-153300475.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BXP's Q3 FFO Meets Estimates, Lease Revenues Increase Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBXP's Q3 FFO Meets Estimates, Lease Revenues Increase Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-30 23:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bxps-q3-ffo-meets-estimates-153300475.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Boston Properties BXP reported third-quarter 2024 funds from operations (FFO) per share of $1.81, in line with the Zacks Consensus Estimate. However, the reported figure declined 2.7% year over year.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/bxps-q3-ffo-meets-estimates-153300475.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SLG","symbol_name":"SL Green Realty Corp","start_time":0,"source_url":"https://finance.yahoo.com/news/bxps-q3-ffo-meets-estimates-153300475.html","article_id":"2479371737","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479371737","pubTimestamp":1730302380,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Boston PropertiesBXP reported third-quarter 2024 funds from operations  per share of $1.81, in line with the Zacks Consensus Estimate. However, the reported figure declined 2.7% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BXP’s quarterly results reflect better-than-anticipated revenues due to healthy leasing activity. However, higher interest expenses during the quarter acted as a dampener. The company revised its guidance for 2024 FFO per share.Quarterly revenues from lease came in at $799.5 million, up 4.2% year over year. The Zacks Consensus Estimate was pegged at $790.5 million. Total revenues increased 4.2% from the prior-year quarter to $859.2 million.BXP’s share of the same-property net operating income  on a cash basis  totaled $444.7 million, which declined 2% from the prior-year quarter.BXP’s in-service properties occupancy fell 10 basis points sequentially to 87%.BXP expects its 2024 FFO per share in the band of $7.09-$7.11, revisi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SLG":"SL Green Realty Corp","BXP":"BXP Inc"},"translate_title":"BXP第三季度FFO符合预期，租赁收入同比增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BXP":1,"SLG":0.9},"content_text":"Boston Properties BXP reported third-quarter 2024 funds from operations (FFO) per share of $1.81, in line with the Zacks Consensus Estimate. However, the reported figure declined 2.7% year over year.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.\nBXP’s quarterly results reflect better-than-anticipated revenues due to healthy leasing activity. However, higher interest expenses during the quarter acted as a dampener. The company revised its guidance for 2024 FFO per share.\nQuarterly revenues from lease came in at $799.5 million, up 4.2% year over year. The Zacks Consensus Estimate was pegged at $790.5 million. Total revenues increased 4.2% from the prior-year quarter to $859.2 million.\n\nBXP, Inc. Price, Consensus and EPS Surprise\n\nBXP, Inc. price-consensus-eps-surprise-chart | BXP, Inc. Quote\n\nBXP’s Q3 in Detail\nBXP’s rental revenues (excluding termination income) for the office portfolio were $773 million, which fell marginally year over year. For the hotel & residential segment, the metric aggregated $27.2 million, reflecting a jump of 7.6% year over year. On a consolidated basis, BXP’s rental revenues (excluding termination income) came in at $800.2 million, down marginally year over year.\nBXP’s share of the same-property net operating income (NOI) on a cash basis (excluding termination income) totaled $444.7 million, which declined 2% from the prior-year quarter.\nIts share of EBITDAre (on a cash basis), as of Sept. 30, 2024, was $469.8 million, up marginally from $466.2 million as of June 30, 2024.\nBXP’s in-service properties occupancy fell 10 basis points sequentially to 87%.\nBXP’s quarterly interest expenses were up 10.4% year over year to $163.2 million.\nBXP’s Portfolio Activity\nAs of Sept. 30, 2024, BXP’s portfolio comprised 184 properties, encompassing 53 million square feet of space. This included nine properties under construction/redevelopment.\nThe company executed 74 leases aggregating 1.1 million square feet with a weighted average lease term of 7.2 years.\nBXP fully placed in service a laboratory/life sciences project, 180 CityPoint, encompassing approximately 329,000 square feet in Waltham, MA.\nBXP partially placed in service Skymark in Reston, VA. The residential property consists of 508 units across a five-story low-rise building and an iconic 39-story tower. The property is owned by a joint venture in which BXP has a 20% interest.\nBXP’s Balance Sheet Position\nBXP exited the third quarter of 2024 with cash and cash equivalents of $1.42 billion, up from $685.4 million as of June 30, 2024.\nBXP’s share of net debt to EBITDAre annualized was 7.59 as of Sept. 30, 2024, down from 7.91 times as of June 30, 2024.\nBXP’s 2024 Outlook\nBXP expects its 2024 FFO per share in the band of $7.09-$7.11, revising it from the range of $7.07-$7.13 projected earlier and keeping the midpoint unchanged. The Zacks Consensus Estimate for 2024 FFO per share, pegged at $7.10, is within the guided range.\nBXP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformance of Other REITs\nAlexandria Real Estate Equities, Inc. ARE reported third-quarter 2024 adjusted funds from operations (AFFO) per share of $2.37, missing the Zacks Consensus Estimate by a penny. However, the reported figure outpaced the year-ago quarter’s AFFO per share of $2.26 by 4.9%.\nResults reflected a rise in revenues, aided by decent leasing activity and rental rate growth.  ARE narrowed its 2024 outlook.\nSL Green Realty Corp. SLG reported a third-quarter 2024 FFO per share of $1.13, which missed the Zacks Consensus Estimate of $1.21. The company had reported an FFO of $1.27 per share in the previous year.\nSLG’s results reflected decent leasing activity in its Manhattan portfolio and higher rental revenues, though higher interest expenses acted as a dampener.\nNote: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBXP, Inc. (BXP) : Free Stock Analysis Report\nSL Green Realty Corporation (SLG) : Free Stock Analysis Report\nAlexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479371737"}