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Boston Properties: Q4 Earnings Snapshot
By AP News - Jan 28, 2025, 05:02 PM ET
Last Updated - Jan 28, 2025, 05:02 PM EST
BOSTON (AP) — BOSTON (AP) — Boston Properties Inc. (BXP) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Boston-based real estate investment trust said it had funds from operations of $284 million, or $1.79 per share, in the period.
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The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.79 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $230 million, or $1.45 per share.
The real estate investment trust posted revenue of $858.6 million in the period. Its adjusted revenue was $798.2 million, which topped Street forecasts. Four analysts surveyed by Zacks expected $795.3 million.
For the year, the company reported funds from operations of $1.12 billion, or $7.10 per share. Revenue was reported as $3.18 billion.
Boston Properties expects full-year funds from operations to be $6.77 to $6.95 per share.
The company's shares have dropped almost 2% since the beginning of the year, while the S&P's 500 index has climbed 27%. In the final minutes of trading on Tuesday, shares hit $73.18, a climb of slightly more than 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BXP at https://www.zacks.com/ap/BXP
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