BOSTON (AP) — BOSTON (AP) — Boston Properties Inc. (BXP) on Tuesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $276.7 million, or $1.74 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.72 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 $121.7 million, or 77 cents per share.
The real estate investment trust posted revenue of $871.5 million in the period. Its adjusted revenue was $809.8 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $807.9 million.
Boston Properties expects full-year funds from operations in the range of $6.89 to $6.92 per share.
The company’s shares have decreased slightly since the beginning of the year, while the S&P’s 500 index has increased 17%. In the final minutes of trading on Tuesday, shares hit $74.09, a fall of 15% in the last 12 months.
_____
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
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
