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Jun 30, 2024
Boston Properties Q2 2024 Earnings Report
Boston Properties' corporate name changed to BXP, Inc. and reported a decrease in same property NOI
Key Takeaways
BXP, Inc. reported net income attributable to BXP, Inc. of $79.6 million, or $0.51 per diluted share, and FFO attributable to BXP, Inc. of $278.4 million, or $1.77 per diluted share. The company changed its corporate name from Boston Properties, Inc. to BXP, Inc.
BXP’s portfolio totals 53.5 million square feet and 186 properties.
The Company completed the acquisition of its joint venture partner’s 50% economic ownership interest in 901 New York Avenue
BXP's guidance for third quarter 2024 diluted FFO per share is $1.80 to $1.82 and full year 2024 is $7.09 to $7.15.
Change in BXP’s Share of Same Property Net Operating Income (NOI) (excluding termination income) decreased by 4.4%
Revenue by Segment
Forward Guidance
BXP’s guidance for the third quarter 2024 and full year 2024 for diluted earnings per common share attributable to BXP, Inc. (EPS) and diluted funds from operations (FFO) per common share attributable to BXP, Inc.
Positive Outlook
- Rental rates
- Occupancy levels
- Interest rates
- The timing of the lease-up of available space
- The timing of development cost outlays and development deliveries
Challenges Ahead
- Possible future gains or losses
- The impact on operating results from other possible future property acquisitions or dispositions
- The impacts of any other capital markets activity
- Future write-offs or reinstatements of accounts receivable and accrued rent balances
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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