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Mar 31, 2024
Boston Properties Q1 2024 Earnings Report
Boston Properties' financial results for Q1 2024 were reported.
Key Takeaways
Boston Properties reported a net income attributable to the company of $79.88 million, with diluted EPS of $0.51. The diluted FFO per share was $1.73. The company's share of same property NOI decreased by 1.9% excluding termination income.
Net income attributable to Boston Properties, Inc. was $79.88 million.
Diluted FFO per share was $1.73.
Revenue was $839.44 million.
The company completed the acquisition of its joint venture partner’s 50% economic ownership interest in 901 New York Avenue.
Revenue by Segment
Forward Guidance
BXP's guidance for the second quarter and full year 2024 reflects management’s view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, and interest rates.
Positive Outlook
- Estimates reflect management's view of current and future market conditions.
- Includes assumptions with respect to rental rates.
- Includes assumptions with respect to occupancy levels.
- Includes assumptions with respect to interest rates.
- Includes assumptions with respect to the timing of the lease-up of available space.
Challenges Ahead
- Estimates do not include possible future gains or losses from property acquisitions or dispositions.
- Estimates do not include the impacts of any other capital markets activity.
- Estimates do not include future write-offs or reinstatements of accounts receivable and accrued rent balances.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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