Boston Properties (BXP), one of the largest publicly-traded owners, developers, and managers of Class A office properties in the U.S., has been a subject of varied market developments. BXP's Q2 results outperformed FFO and revenue estimates while Q1 FFO matched predictions but the outlook for 2024 was lowered. The company declared a regular quarterly dividend and was upgraded to 'Hold' by StockNews.com amidst the fluctuating price target set by Truist Financial. Several investment firms such as Heitman Real Estate Securities and Goldman Sachs Group purchased significant shares of BXP. Despite BXP facing a legal hurdle with a biotech company over a Kendall Square site, it showed robust financial performance as office leasing activity surged. The company completed the sale of a 45% interest in Kendall Square Life Sciences Property and upsized its credit facilities to boost liquidity. However, BXP's credit rating was downgraded by Moody's as it contended with rising rates affecting profit forecasts. The company commenced a major renovation of a D.C.-Area Building and broke ground on Cambridge’s tallest edifice.
Boston Properties BXP News Analytics from Thu, 28 Sep 2023 07:00:00 GMT to Sat, 15 Jun 2024 21:19:41 GMT -
Rating 5
- Innovation -3
- Information 7
- Rumor -2
