BXP, Inc. Stock Price, News & Analysis

BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the US, has reported strong leasing activity in Q2 2024. The company signed approximately 1.3 million square feet of leases with a weighted-average lease term of 9.0 years. This brings BXP's total leasing activity for 2024 to about 2.2 million square feet.

Notable leases include a 289,000 square foot renewal and expansion in Reston, Virginia, a 164,000 square foot renewal and expansion in New York City, and a 120,000 square foot renewal in Boston. The company experienced strong leasing activity across its portfolio, particularly in Boston, New York, and Washington, DC regions.

BXP (NYSE: BXP), the largest publicly traded developer of premier workplaces in the US, announced that Bechtel has signed a lease for approximately 289,000 square feet at Reston Overlook in Reston Town Center, Virginia. This represents a renewal and expansion for Bechtel, increasing its occupancy to eleven floors in the 320,000 square foot building.

Bechtel, a global engineering firm founded in 1898, has been headquartered in Reston since 2012. The company employs 18,000 individuals across nearly 50 countries. This expansion demonstrates Reston Town Center's appeal to global firms and BXP's strong partnership with Bechtel. The center offers access to major transit hubs, shopping, dining, and year-round community programming.

BXP, Inc. (NYSE: BXP) reported strong Q2 2024 results, exceeding guidance for EPS and FFO. Revenue increased 4.1% to $850.5 million, while net income was $79.6 million ($0.51 EPS). FFO reached $278.4 million ($1.77 per diluted share). The company executed 73 leases totaling over 1.3 million square feet with a 9.0-year average term. BXP's CBD portfolio was 90.4% occupied and 92.2% leased. The company provided guidance for Q3 2024 with EPS of $0.54-$0.56 and FFO of $1.80-$1.82 per diluted share. Full-year 2024 guidance was set at EPS of $2.08-$2.14 and FFO of $7.09-$7.15 per diluted share. BXP also announced sustainability achievements, including being named one of the World's Most Sustainable Companies by TIME Magazine.

BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the U.S., has been named one of the World's Most Sustainable Companies by TIME Magazine and Statista, ranking #79 overall and highest among U.S. property owners. This inaugural list evaluates 500 companies based on environmental targets, carbon emissions, renewable energy use, and scores from CDP, among other metrics. BXP's Chairman & CEO, Owen Thomas, noted that sustainability is central to the company's strategy, benefiting both the environment and the organization. BXP's efforts include resource conservation, energy efficiency, and decarbonization, which enhance client service and asset value. The company has also received accolades such as Best ESG Program by Commercial Property Executive, ENERGY STAR Partner of the Year, and others. BXP's 2023 Sustainability & Impact Report, detailing their sustainability initiatives, is available on their website.

BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, will release its financial results for the second quarter of 2024 on July 30, 2024, after market close.

A conference call and webcast to discuss these results will be held the following day, July 31, 2024, at 10:00 A.M. Eastern Time. Participation details and access to the live webcast will be available on BXP’s website, with a replay accessible for up to twelve months.

Boston Properties (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the U.S., announced its Board of Directors has declared a regular quarterly cash dividend of $0.98 per share for Q2 2024. This dividend will be payable on July 31, 2024, to shareholders of record as of June 28, 2024. As of March 31, 2024, BXP's portfolio encompassed 53.5 million square feet across 187 properties, including 11 under construction or redevelopment. BXP operates primarily in six major U.S. markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has a history of over 50 years in delivering premium workplaces and is structured as a real estate investment trust (REIT).

BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the US, has announced that its top executives will participate in Nareit's 2024 REITweek Investor Conference.

Chairman & CEO Owen Thomas, President Douglas Linde, and CFO Michael LaBelle will present on June 4, 2024, at 11:00 AM ET at the New York Hilton Midtown.

The presentation, moderated by Steve Sakwa from Evercore ISI, will cover the current operating environment, trends, strategies, and investment activities.

A live webcast and replay of the presentation will be available on BXP’s website.

BXP (NYSE: BXP) will host its third annual Sustainability & Impact Investor Update on May 15, 2024, showcasing its commitment to sustainability and impact. The webcast will feature key executives and highlight BXP's achievements in ESG programs and energy efficiency.

BXP reported its first quarter 2024 results with revenues increasing by 4.5% to $839.4 million. Net income was $79.9 million, falling short of EPS guidance due to impairment charges and higher depreciation expenses. FFO was $271.3 million, in line with guidance. BXP provided reduced guidance for Q2 2024 and full year 2024 due to increased expenses and interest rates.