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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.
Boston Properties (NYSE: BXP) reported a first-quarter net income of $91.6 million, or $0.59 EPS, down from $497.5 million, or $3.20 EPS, a year prior due to a significant asset sale gain last year. Funds from Operations (FFO) were $243.8 million, or $1.56 per diluted share, compared to $284.1 million, or $1.83 per share in Q1 2020. The company signed 592,000 square feet of leases, including notable agreements with Roku and a healthcare company. Guidance for Q2 2021 indicates EPS between $0.54 and $0.56 and FFO of $1.59 to $1.61 per share.
Boston Properties, Inc. (NYSE: BXP) has signed a seven-year lease for 75,000 square feet with Imprivata, a notable digital identity company, at its recently developed 20 CityPoint in Waltham, Massachusetts. This lease completion brings the office space at 20 CityPoint to 100% occupancy. Imprivata plans to relocate its headquarters, emphasizing the site's modern design and amenities as pivotal for their workforce. The property features shared facilities, a café, and a daycare center, enhancing its appeal for employee retention and talent recruitment.
Boston Properties (NYSE: BXP), the largest publicly-traded developer, owner, and manager of Class A office properties in the U.S., will release its financial results for Q1 2021 on April 27, 2021, after trading hours. A conference call to discuss these results is scheduled for April 28, 2021, at 10:00 A.M. ET. Investors can join the call by dialing (877) 796-3880 (Domestic) or (443) 961-9013 (International) with the passcode 8878526. BXP's portfolio comprises 51.2 million square feet across 196 properties, including six under construction.
Boston Properties (NYSE: BXP) has declared a quarterly cash dividend of $0.98 per share for the period January 1 to March 31, 2021. This dividend will be payable on April 30, 2021, to shareholders of record by March 31, 2021. As the largest publicly traded developer and owner of Class A office properties in the U.S., Boston Properties operates in key markets, including Boston, Los Angeles, New York, San Francisco, and Washington, D.C., managing a portfolio of 51.2 million square feet across 196 properties.
Boston Properties (NYSE: BXP), the largest publicly-traded developer and owner of Class A office properties in the U.S., will participate in the Citi 2021 Global Property CEO Conference from March 8-11, 2021. Key events include a keynote discussion on March 8 with Co-CEO of Gensler and CEO Owen Thomas at 12:15 pm ET, and a roundtable with executives on March 9 at 8:15 am ET. The company, which has a portfolio of 51.2 million square feet across major U.S. markets, invites investors to access presentation materials and webcasts via their investor relations website.
Boston Properties (NYSE: BXP) announced that its operating partnership, BPLP, will issue $850 million in 2.550% senior unsecured notes due 2032. The offering, priced at 99.570% of principal, is set to close on March 16, 2021. Proceeds, estimated at $839.2 million, will finance eligible green projects in the U.S. Additionally, BPLP will redeem all outstanding Series B Cumulative Redeemable Preferred Stock, effective April 1, 2021, at a price of approximately $25.1641 per share. The company emphasizes its commitment to sustainability with multiple green bond offerings and high LEED certification levels.
Boston Properties (NYSE: BXP) has announced that Peter Otteni and Jake Stroman will take over as Co-Heads of the Washington, DC office, effective May 15, 2021, succeeding Peter Johnston, who is retiring after over 33 years with the company. Otteni, with extensive development experience, and Stroman, a seasoned leasing expert, will continue to lead their respective departments while also overseeing regional operations. The leadership transition aims to ensure continued growth and stability in BXP's operations in Washington, DC.
Boston Properties, Inc. (NYSE:BXP) reported a fourth quarter net income of $7.3 million, down from $140.8 million year-over-year, heavily impacted by a $0.35 per share impairment charge for Dock 72. Funds from Operations (FFO) were $213.1 million, down from $289.9 million in Q4 2019. The company signed 1.2 million square feet of new leases, the strongest quarter since the pandemic began. For Q1 2021, projected EPS is $0.53 - $0.57 and projected FFO is $1.53 - $1.57 per share. Full year net income reached $862.2 million, up from $511 million in 2019, primarily due to asset sales.
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