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

BXP

Tue 20:17

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: ID:nBw943frza

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.)