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Jun 30, 2021
Boston Properties Q2 2021 Earnings Report
Boston Properties' financial performance increased due to strategic investments and operational efficiency.
Key Takeaways
Boston Properties reported an increase in net income and FFO for Q2 2021, driven by strong leasing activity and effective cost management. The company's strategic focus on key markets and high-quality properties contributed to its positive financial results.
Net income attributable to Boston Properties, Inc. common shareholders increased to $111.7 million.
FFO attributable to Boston Properties, Inc. common shareholders rose to $268.6 million.
Diluted FFO per share reached $1.72.
The company completed the acquisition of 153 & 211 Second Avenue in Waltham, MA.
Boston Properties
Boston Properties
Boston Properties Revenue by Segment
Revenue by Segment
Lease Revenue
CapyFin.comParking and other Revenue
CapyFin.comHotel Revenue
CapyFin.comDevelopment & Mgmt Revenue
CapyFin.com Forward Guidance
Boston Properties projects EPS to be between $1.28 and $1.30 and FFO per share to be between $1.68 and $1.70 for the third quarter of 2021.
Positive Outlook
- Rental rates are expected to remain stable.
- Occupancy levels are projected to increase.
- The timing of lease-up of available space is anticipated to align with expectations.
- Earnings will be impacted by events referenced in the company's earnings release.
- The estimates reflect management's view of current and future market conditions.
Challenges Ahead
- Possible future gains or losses from property acquisitions or dispositions.
- Possible gains or losses from capital markets activity.
- Possible future write-offs or reinstatement of accounts receivable and accrued rent balances.
- Possible future impairment charges.
- EPS estimates may be subject to fluctuations as a result of several factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income