BXP forecasts 2026 FFO above estimates on strong leasing demand from AI companies

BXP

28/04/2026 21:53

April 28 (Reuters) - Real estate investment trust BXP BXP.N, formerly known as Boston Properties, forecast 2026 funds from operations above Wall Street estimates on Tuesday, banking on strong leasing demand from AI companies amid a work-from-office push.

The Boston, Massachusetts-based company lifted the lower end of its 2026 funds from operations (FFO) guidance, forecasting between $6.9 per share and $7.04 per share. FFO is a key measure of a REIT's performance.

The midpoint of the new FFO forecast is above analysts' estimates of $6.95 per share, according to data compiled by LSEG.

BXP said during its fourth-quarter earnings call in January that it was seeing accelerating demand from AI companies, particularly in the Bay Area and New York City.

The company, however, forecast second-quarter FFO per share of $1.69 to $1.71, below analysts' estimates of $1.72 per share.

BXP shares rose 0.7% in after-hours trading.

For the quarter ended March 31, BXP reported FFO of $1.59 per share, down from $1.64 per share a year ago.

Analysts on average expected a quarterly FFO of $1.58 per share, according to data from LSEG.

BXP's first-quarter revenue rose to $872.1 million, compared with $865.2 million a year earlier.

(Reporting by Parth Chandna; Editing by Jonathan Ananda)

((Parth.Chandna@thomsonreuters.com;))