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BXP Q3 revenue rises on property sale gains; raises 2026 EPS, FFO guidance

By Reuters News


Overview

  • US office REIT's Q3 revenue rose 4.6% yr/yr, beating analyst expectations

  • EPS for Q3 was $0.71

  • Company raised full-year 2026 EPS and FFO guidance after Q3 outperformance


Outlook

  • BXP raises full-year 2026 EPS guidance to $2.35-$2.37 per diluted share

  • Company lifts full-year 2026 FFO guidance to $7.06-$7.08 per diluted share

  • BXP expects about half of 1.1 mln sq ft of future lease commencements before year-end 2026


Result Drivers

  • GAINS ON SALES - Co said Q3 EPS exceeded guidance mainly due to gains on sales from property dispositions

  • PORTFOLIO PERFORMANCE - Co attributed higher Q3 EPS and FFO to better-than-projected portfolio performance

  • OCCUPANCY GAINS - Co said total portfolio occupancy increased by 100 basis points from Q2, marking the fourth consecutive quarter of occupancy gains


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$911.40 mln

$896.10 mln (8 Analysts)

Q3 EPS

$0.71

Q3 Net Income

$114.50 mln

Q3 FFO

$302.20 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy"

  • Wall Street's median 12-month price target for BXP, Inc. is $70.00, about 12.4% above its October 26 closing price of $62.26

  • The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 33 three months ago


Reuters Recommended Reads

  • Oct 26 - Piedmont Realty Trust Q3 core FFO per share rises as rental rates grew, new leases started

  • Oct 26 - Alexandria Real Estate Q3 net loss widens on impairments

  • Oct 26 - Welltower Q3 normalized FFO per share rises 25%, guidance raised


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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