The leading commercial real estate firm, Boston Properties (BXP), reported its Q1 earnings, bringing a mixed bag of results. Despite missing expectations by $0.01 EPS, BXP's revenues grew year-on-year (Y/Y). Overall, it demonstrated a strong leasing momentum, especially in the Boston area, highlighted by 1.1M Square Feet of new leases and a $4.2B financing success. BXP has undergone strategic moves underlining long-term value creation, including upsizing its unsecured credit facility to $2.95 billion and a commercial paper program to $750 Million.
The stock touched a 52-week low at $56.44 with a reduced price target to $75 from $88 by Compass Point. Analyst firms Piper Sandler and Jefferies maintained their buy recommendation for the BXP stock, initiating their coverage with optimism. In one of their development plans, BXP plans to build a trophy office in D.C., while it takes giant strides towards eco-friendly mobility in partnership with Mass Mobility Hub. Notably though, it foresees a decrease in cash flow and occupancy for the year.
Boston Properties BXP News Analytics from Tue, 11 May 2021 07:00:00 GMT to Thu, 01 May 2025 21:04:07 GMT - Rating 4 - Innovation 3 - Information 9 - Rumor -6
