BXP forecasts 2026 funds from operations below estimates amid industry-wide leasing slump

Reuters01-28

BXP forecasts 2026 funds from operations below estimates amid industry-wide leasing slump

Jan 27 (Reuters) - Real estate investment trust BXP BXP.N, formerly known as Boston Properties, on Tuesday forecast annual funds from operations below Wall Street estimates, as the industry grapples with weak leasing demand amid broader macroeconomic uncertainty.

The U.S. administration's changing trade policies have led to uncertainty among companies, delaying capital investments and workforce expansion.

The Boston, Massachusetts-based company now sees 2026 funds from operations — a key measure of a REIT's performance — between $6.88 and $7.04 per share, the midpoint of which is below the analysts' average estimate of $7.00 per share, according to data compiled by LSEG.

It expects first-quarter FFO between $1.56 and $1.58 per share.

The company reported FFO of $1.76 per share for the quarter ended December 31, compared with $1.79 per share a year earlier.

Its revenue from leasing rose 1.4% to $809.15 million in the fourth quarter from $798.19 million in the prior year.

BXP reported net income of $248.49 million, or $1.56 per share, from a loss of $230.02 million, or $1.45 per share a year earlier.

Its fourth-quarter revenue rose 1.37% to $877.10 million, beating estimates of $864.66 million, according to data compiled by LSEG.

(Reporting by Parth Chandna and Apratim Sarkar; Editing by Leroy Leo and Alan Barona)

((Parth.Chandna@thomsonreuters.com;))

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