Stock Monitor: Alexandria Real Estate Equities Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 09, 2018 / If you want access to our free earnings report on Boston Properties, Inc. (NYSE: BXP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BXP. The Company reported its first quarter fiscal 2018 operating and financial results on April 24, 2018. The Boston-based real estate investment trust (REIT) reported better than expected revenues, while its FFO numbers were in-line with market estimates. Additionally, the Company raised the lower end of its earnings and FFO guidance for the full fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Alexandria Real Estate Equities, Inc. (NYSE: ARE), which also belongs to the Financial sector as the Company Boston Properties. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Boston Properties most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=BXP

Earnings Highlights and Summary

For the three months ended March 31, 2018, Boston Properties' revenues jumped 4% to $640.8 million compared to $618.3 million in Q1 2017. The Company's revenue numbers beat analysts' estimates of $604.5 million.

For Q1 2018, Boston Properties' base rent revenues were $519.5 million, up 3% compared to $503.6 million in Q1 2017. The Company's operating income was $208.2 million in the reported quarter versus $206.2 million in Q1 2017.

Boston Properties' net income attributable to common shareholders was $176.0 million, or $1.14 per diluted share, in Q1 2018 compared to $97.1 million, or $0.63 per diluted share, in Q1 2017. The Company's net income attributable to common shareholders for the reported quarter included a gain on sale of real estate of approximately $96.4 million, or $0.56 per share, on a diluted basis.

For Q1 2018, Boston Properties' funds from operations (FFO) were $230.6 million, or $1.49 per diluted share compared to $228.4 million, or $1.48 per diluted share, in Q1 2017. The Company's FFO of $1.49 per diluted share, greater than the mid-point of its earlier guidance range of $1.47 - $1.49, was primarily attributed to a $0.02 per share benefit from better than expected portfolio operations, partially offset by $0.01 per share of greater than projected general and administrative expenses. Boston Properties' earnings numbers matched Wall Street's estimates of $1.49 per share.

Development Activities

On January 24, 2018, Boston Properties entered into a lease agreement with Leidos for a build-to-suit project, with approximately 276,000 net rentable square feet of Class A office space at the Company's 17Fifty Presidents Street development project located in Reston, Virginia. Concurrently with the execution of the lease, the Company commenced development of the project and expects the building to be completed and available for occupancy during Q2 2020.

On January 31, 2018, Boston Properties partially placed in-service its Signature at Reston development project, comprising of 508 apartment units and retail space aggregating approximately 515,000 square feet located in Reston, Virginia. On February 23, 2018, the Company entered into a lease agreement with Fannie Mae to lease approximately 850,000 net rentable square feet of Class A office space at the Company's Reston Gateway development project located in Reston, Virginia. The initial phase of the project will consist of approximately 1.1 million net rentable square feet. Boston Properties is expecting to commence construction in H2 2018, upon the receipt of all necessary approvals.

Acquisition and Disposition Activities

On January 09, 2018, Boston Properties completed the sale of its 500 E Street, S.W. property located in Washington, DC for a net contract sale price of approximately $118.6 million. The net cash proceeds from the sale totaled approximately $116.1 million, resulting in a gain on sale of real estate totaling approximately $96.4 million. 500 E Street, S.W. is an approximately 262,000 net rentable square foot Class A office property. The property is 100% leased with 21% expecting to vacate in February 2019.

Outlook

Boston Properties updated its full year 2018 earnings per share forecasts to be in the range of $3.28 - $3.37 from the earlier guidance of $3.24 - $3.37. Additionally, the Company also updated its FFO per share projected guidance to be in the band of $6.27 - $6.36 for FY18 from the previous estimates of $6.23 - $6.36.

Stock Performance Snapshot

May 08, 2018 - At Tuesday's closing bell, Boston Properties' stock fell 1.11%, ending the trading session at $122.77.

Volume traded for the day: 1.06 million shares, which was above the 3-month average volume of 752.67 thousand shares.

Stock performance in the last month ? up 2.21%; previous three-month period ? up 6.46%; and past six-month period ? up 1.73%

After yesterday's close, Boston Properties' market cap was at $18.95 billion.

Price to Earnings (P/E) ratio was at 35.74.

The stock has a dividend yield of 2.61%.

The stock is part of the Financial sector, categorized under the REIT - Office industry. This sector was up 0.2% at the end of the session.

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