BUZZ-Mizuho cuts BXP's PT on $1 bln debt maturity, market headwinds

Reuters12-13

** Mizuho cuts real estate investment trust BXP's BXP.N price target to $79 from $82, reiterates "outperform" rating

** New PT still represents an upside of 10.3% from stock's last close

** Mizuho faces pressure from dilutive asset sales and higher interest expenses due to $1 billion debt maturing in Q4 2026

** Adds that 340 Park Avenue property becomes operational in Q4, capitalized interest will decline

** A common "earnings" trend is most office REITs likely have limited funds from operations (FFO) growth in FY26 and there is hope of a "hockey-stick" in several for FY27 - brokerage

** Nine of 23 brokerages rate the stock "buy" or higher and 14 "hold"; their median PT is $78, according to data compiled by LSEG

** Including session's moves, shares down 4.2% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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