Boston Properties(US:BXP)2021-04-28 20:38Company Overview - Boston Properties' complete portfolio totals 51.6 million square feet across 196 properties as of March 31, 2021 [1] - The dividend yield is 3.9% [8] - The consolidated market capitalization is $30.1 billion [8] - BXP's share of market capitalization is $30.1 billion [8] Financial Performance (Q1 2021 vs Q1 2020) - BXP's Share of Revenue decreased by $39.6 million, from $720.4 million to $680.8 million [14] - Funds From Operations (FFO) decreased by $45.7 million, from $316.2 million to $270.5 million [15] - BXP's Share of Same Property NOI (excluding termination income) decreased by $24.2 million, from $433.3 million to $409.1 million [16] - Funds Available for Distribution (FAD) decreased by $54.0 million, from $235.9 million to $181.9 million [18] COVID-19 Impact on Financials - COVID-19 related decreases included in BXP's Share of Revenue for Q1 2021 totaled $18.3 million [14] - COVID-19 related decreases included in Funds from Operations (FFO) for Q1 2021 totaled $13.5 million [15] - COVID-19 related decreases included in BXP's Share of Same Property NOI (excluding termination income) for Q1 2021 totaled $13.1 million [16] - COVID-19 related decreases included in Funds Available for Distribution (FAD) for Q1 2021 totaled $22.0 million [18] Leasing Activity - Total space leased in Q1 2021 was 1.3 million square feet [42] - Second generation leases commencing during the period covered 1.1 million square feet [42] - The increase in net rents for second-generation leases was 14.67% [42] Capital Structure - Consolidated debt totaled $12.5 billion [19] - BXP's Share of Debt totaled $12.5 billion [19] - Consolidated Debt to Consolidated Market Capitalization was 41.62% [19] - BXP's Share of Debt to BXP's Share of Market Capitalization was 41.57% [19]