Keybanc has upgraded Boston Properties (BXP) and the company is experiencing a strong valuation following a recent uptick in share price. There's positive outlook for BXP’s Q3 earnings, indicating it’s a solid player in the office REITs space. On the other hand, BXP’s decision to sell some of its Silicon Valley properties that were envisioned as tech parks signifies a strategic shift. Their strong occupancy growth outlook attracted an upgrade from KeyBanc and they are not worried about new rival towers. BXP started construction on a $2B Midtown office tower and shows continuous strong leasing momentum, though they've made a strategic decision to cut dividends and sell assets to fund new office towers. Continuing with the robust momentum, they announced an offering of exchangeable senior notes and closed $465M in financing for The Hub on Causeway in Boston. BXP has managed to beat Q3 FFO and revenue estimates even with a recent share price dip. They plan to develop the $2B Midtown office tower with or without an anchor and had the strongest leasing quarter post-Covid, even as their cash flow and occupancy are projected to fall this year.
Boston Properties BXP News Analytics from Tue, 06 Sep 2022 07:00:00 GMT to Fri, 05 Dec 2025 00:06:00 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor -3
