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Boston Properties, Inc. (BXP), established in 1970 by Mortimer B. Zuckerman and Edward H. Linde, is a self-administered and self-managed real estate investment trust (REIT). The company is renowned as one of the largest owners, managers, and developers of premium office properties in the United States. With its headquarters in Boston, the company maintains significant operational presence in key markets including Boston, New York, San Francisco, and Washington, D.C.
Listed as a public company since June 1997, Boston Properties has built an impressive portfolio of over 190 properties, encompassing approximately 53 million rentable square feet. The company's properties are primarily first-class office spaces, but also include a hotel, two residential properties, and five retail properties. These assets are strategically located in central business districts (CBDs) and suburban office centers across major cities such as New York, Boston, San Francisco, Los Angeles, Seattle, and the Washington, D.C. region.
Boston Properties is distinguished by its in-house building management expertise and a strong reputation for responsiveness to tenants' needs. The company’s full-service regional offices play a vital role in acquiring, developing, and managing properties, ensuring high-quality service and maintenance. The company's development track record includes premium CBD office buildings and suburban office centers, contributing to its high standing in the real estate market.
Recent achievements and current projects highlight Boston Properties' commitment to sustainability and innovative design. The company continuously seeks opportunities to enhance its property portfolio and further strengthen its market position through strategic partnerships and developments.
Financially, Boston Properties maintains a robust balance sheet and a disciplined approach to capital allocation. This financial stability supports its ongoing growth initiatives and provides a strong foundation for future opportunities.
Stay informed with the latest updates and relevant information about Boston Properties’ performance, events, and developments by visiting StockTitan regularly.
BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the United States, has announced its regular quarterly cash dividend. The company will pay $0.98 per share for the period October 1, 2024 to December 31, 2024. The dividend is payable on January 30, 2025 to shareholders of record as of December 31, 2024.
BXP operates in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. As of September 30, 2024, the company's portfolio comprises 184 properties totaling 53.0 million square feet, including nine properties under construction/redevelopment.
BXP reported Q3 2024 financial results with revenue increasing 4.2% to $859.2 million compared to Q3 2023. Net income was $83.6 million ($0.53 EPS), compared to a loss of $111.8 million in Q3 2023. The company executed 74 leases totaling over 1.1 million square feet with a 7.2-year weighted-average term. Total portfolio occupancy was 87.0% and 89.1% leased. BXP provided full year 2024 guidance with EPS of $2.05-$2.07 and FFO of $7.09-$7.11 per diluted share. The company completed an $850 million senior notes offering and modified its Santa Monica Business Park mortgage loan.
BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has announced its plans to release third quarter 2024 financial results on Tuesday, October 29, 2024, after the NYSE trading close. The company will host a conference call and webcast on Wednesday, October 30, 2024, at 10:00 A.M. Eastern Time to discuss the financial results and provide a company update.
Participants interested in joining the call and asking questions can register to receive dial-in numbers and a unique PIN. A live audio, listen-only webcast will also be available in the Investors section of BXP's website. A replay of the call will be accessible on the company's website for up to twelve months following the event.
BXP, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has declared a regular quarterly cash dividend of $0.98 per share of common stock. This dividend covers the period from July 1, 2024 to September 30, 2024, and will be payable on October 31, 2024 to shareholders of record as of the close of business on September 30, 2024.
BXP operates in six dynamic gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. As of June 30, 2024, BXP's portfolio included 186 properties, totaling 53.5 million square feet, with ten properties under construction or redevelopment. The company is organized as a real estate investment trust (REIT) and has been delivering premier workplaces for over 50 years.
BXP, the largest publicly traded developer and manager of premier workplaces in the US, has announced its participation in the BofA Securities 2024 Global Real Estate Conference. Douglas Linde, President, and Michael LaBelle, CFO, will represent BXP at the event, scheduled for September 10-12, 2024, at the Bank of America Tower in New York City.
BXP's presentation is set to begin at approximately 11:05 AM ET on Tuesday, September 10, 2024. The executives may discuss current operating conditions, trends, strategies, development activities, and other business matters affecting BXP. A live webcast of the presentation will be available on BXP's website in the Investors section, with a replay accessible shortly after the event.
BXP, the largest publicly traded developer and manager of premier workplaces in the US, has announced that its operating partnership, BPLP, will sell $850 million of 5.750% senior unsecured notes due 2035. The notes were priced at 99.961% of the principal amount, yielding 5.756% to maturity. The offering is expected to close on August 26, 2024, with estimated net proceeds of $841.9 million.
BPLP intends to use the proceeds to repay debt, potentially including the redemption of $850 million in 3.200% senior notes due 2025. This offering is expected to reduce BXP's third quarter and full year 2024 earnings per share by approximately $0.005 and $0.02, respectively, due to increased net interest expense.
BXP (NYSE: BXP), the largest publicly traded developer and owner of premier workplaces in the US, has announced a significant lease renewal and expansion with Bain Capital at 200 Clarendon Street in Boston. The deal covers approximately 378,000 square feet in New England's tallest building. The 1.7 million square foot landmark tower, located in Boston's Back Bay, offers panoramic views and will soon feature the exclusive 200 Club, opening in 2025. This new amenity will provide clients with premium hospitality and wellness facilities, including fitness, conference, and lounge options. BXP's portfolio, as of June 30, 2024, comprises 53.5 million square feet across 186 properties in six major US markets, with ten properties under construction or redevelopment.
BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the US, has reported strong leasing activity in Q2 2024. The company signed approximately 1.3 million square feet of leases with a weighted-average lease term of 9.0 years. This brings BXP's total leasing activity for 2024 to about 2.2 million square feet.
Notable leases include a 289,000 square foot renewal and expansion in Reston, Virginia, a 164,000 square foot renewal and expansion in New York City, and a 120,000 square foot renewal in Boston. The company experienced strong leasing activity across its portfolio, particularly in Boston, New York, and Washington, DC regions.
BXP (NYSE: BXP), the largest publicly traded developer of premier workplaces in the US, announced that Bechtel has signed a lease for approximately 289,000 square feet at Reston Overlook in Reston Town Center, Virginia. This represents a renewal and expansion for Bechtel, increasing its occupancy to eleven floors in the 320,000 square foot building.
Bechtel, a global engineering firm founded in 1898, has been headquartered in Reston since 2012. The company employs 18,000 individuals across nearly 50 countries. This expansion demonstrates Reston Town Center's appeal to global firms and BXP's strong partnership with Bechtel. The center offers access to major transit hubs, shopping, dining, and year-round community programming.
BXP, Inc. (NYSE: BXP) reported strong Q2 2024 results, exceeding guidance for EPS and FFO. Revenue increased 4.1% to $850.5 million, while net income was $79.6 million ($0.51 EPS). FFO reached $278.4 million ($1.77 per diluted share). The company executed 73 leases totaling over 1.3 million square feet with a 9.0-year average term. BXP's CBD portfolio was 90.4% occupied and 92.2% leased. The company provided guidance for Q3 2024 with EPS of $0.54-$0.56 and FFO of $1.80-$1.82 per diluted share. Full-year 2024 guidance was set at EPS of $2.08-$2.14 and FFO of $7.09-$7.15 per diluted share. BXP also announced sustainability achievements, including being named one of the World's Most Sustainable Companies by TIME Magazine.
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