Boston Properties (BXP) has seen a reaffirmation of their buy rating from Piper Sandler, with Barclays naming it a hold. There have been
key executive changes with BXP beating Q2 and Q1 FFO and revenue estimates through
strong leasing activity. Notable projects include the construction of a $2B Midtown Office Tower and the launch of vertical construction of 343 Madison Avenue in Midtown Manhattan. The company has successfully pre-leased 87% of their new downtown office project with a 126k sq. ft. law firm deal, despite their stocks hitting a 52-week low. Increased occupancy of lab and office buildings in the Boston area and the completion of a 312-unit residential project in Lexington, MA highlight the company’s growth, despite an unexpected earnings dip in Q4 2024. BXP received a credit boost with a secured facility expansion of $2.95B, and reports of a planned skyscraper in Grand Central Terminal.
Major changes include a name alteration to reflect a national focus and a reclassification of Reston Town Center as a central business district. Concerns have been raised over the company’s high dividend yield making it a potential investment risk, but strong earnings in their Q3 results indicate continued stability. Furthermore, Boston Properties completed the sale of a 45% interest in Kendall Square Life Sciences Property and made a headline purchase of Biogen Headquarters in Cambridge for approximately $592 million.
Boston Properties BXP News Analytics from Tue, 11 May 2021 07:00:00 GMT to Sat, 06 Sep 2025 11:26:00 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -5
