Abandoned office building - surplus to requirements. Wirestock/iStock Editorial via Getty Images Investment Thesis The overall office vacancy rate at the beginning of 2024 was 18.6%, a 30 year high, reflecting both reduced use and increased supply. Barry Sternlicht, CEO of Starwood Capital Group, is widely reported to estimate that what was a $3 trillion office property market is now worth only $1.8 trillion, incurring $1.2 trillion in losses. Commercial real estate in general and the office market in parti ...

BOSTON--(BUSINESS WIRE)--BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that Douglas Linde – President, and Michael LaBelle – Chief Financial Officer, will participate in and present at the 2024 BofA Securities Financial Services Conference, which will be held at 1 Hotel South Beach from February 20-22, 2024 in Miami Beach, Florida. BXP’s presentation is expected to begin at approximately 4:10 PM ET on Wednesday, Februa ...

Baris-Ozer Some of my security transactions last year and even in January had the purpose of growing my Income Bucket. It seemed that some readers might benefit from seeing more detail about my process for doing so. The context has two parts. First, I am retired with various income sources that do not fully support my spending and will support a smaller fraction over time. Second, the Income Bucket is the 70% of my portfolio intended to provide growing dividends that can support spending. (It is 80% of the ...

Pakin Songmor/Moment via Getty ImagesAs we enter February 2024, REITs are still stuck in a vicious bear market. Their share prices are down 27% over the past two years, and that's despite growing their rents by 5-10% since then: Data by YChartsAs a result, valuations remain historically low with most REITs (VNQ) trading at large discounts to their net asset values, low FFO multiples, and high dividend yields. If like me, you believe that interest rates will be cut later this year, then now would seem li ...

Start Time: 10:00 January 1, 0000 11:23 AM ET Boston Properties, Inc. (NYSE:BXP) Q4 2023 Earnings Conference Call January 31, 2024, 10:00 AM ET Company Participants Owen Thomas - Chairman and CEO Douglas Linde - President and Director Michael LaBelle - EVP, CFO and Treasurer Hilary Spann - EVP, New York Region Bryan Koop - EVP, Boston Region Rodney Diehl - EVP, West Coast Regions Jake Stroman - EVP, Co-Head of the Washington, DC Region Helen Han - VP, IR Conference Call Participants Steve Sakwa - Evercore I ...

Boston Properties Inc.’s (BXP) fourth-quarter 2023 funds from operations (FFO) per share of $1.82 outpaced the Zacks Consensus Estimate by a penny. However, the reported figure fell 2.2% year over year.BXP’s quarterly results reflect better-than-anticipated revenues on healthy leasing activity. However, higher interest expenses during the quarter marred its year-over-year FFO per share growth. BXP also issued its guidance for 2024 FFO per share.Quarterly revenues from lease came in at $768.9 million, up 4% ...

For the quarter ended December 2023, Boston Properties (BXP) reported revenue of $768.88 million, up 4% over the same period last year. EPS came in at $1.82, compared to $0.78 in the year-ago quarter.The reported revenue represents a surprise of +0.87% over the Zacks Consensus Estimate of $762.28 million. With the consensus EPS estimate being $1.81, the EPS surprise was +0.55%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

BOSTON--(BUSINESS WIRE)--BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, reported results today for the fourth quarter ended December 31, 2023. Financial highlights for the fourth quarter include: Revenue increased 5.0% to $828.9 million for the quarter ended December 31, 2023, compared to $789.8 million for the quarter ended December 31, 2022. Net income attributable to Boston Properties, Inc. of $119.9 million, or $0.76 per dilute ...

Wall Street analysts expect Boston Properties (BXP) to post quarterly earnings of $1.81 per share in its upcoming report, which indicates a year-over-year decline of 2.7%. Revenues are expected to be $762.28 million, up 3.1% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a company's e ...

Boston Properties, Inc. (BXP) is slated to report fourth-quarter and full-year 2023 results on Jan 30 after market close. While its quarterly results are likely to reflect year-over-year growth in revenues, funds from operations (FFO) per share might exhibit a decline.In the last reported quarter, this office real-estate investment trust (REIT) delivered a surprise of 0.54% in terms of FFO per share. The quarterly results reflected better-than-anticipated revenues on healthy leasing activity.Over the preced ...