Earnings Preview: Boston Properties

| About: Boston Properties, (BXP)

Boston Properties (NYSE:BXP), a REIT, is expected to report Q3 earnings today after the market closes, and the REIT's conference call is scheduled for Wednesday, October 29 at 10 am.


Analysts are looking for EPS of $1.21 on revenue of $358.88M. The consensus range for EPS is $1.13 to $1.28, while the consensus range for revenue is $345.53M to $371.62M, according to First Call.

Analyst Views

Earlier this month, Bank of America downgraded Boston Properties to Neutral from Buy, as the firm believes the REIT will be hurt by weakness in the New York City real estate market. Also earlier in October, Friedman Billings upgraded the REIT to Outperform from Market Perform, citing valuation. However, the firm lowered its target to $91 from $96.

REITs such as Boston Properties have been hurt by frozen credit markets, according to Reuters. Investors will want to know how dropping rents are affecting Boston Properties, and they will also be interested in examining REITs' balance sheets, Reuters adds.