Boston Properties (NYSE:BXP), a REIT, is expected to report Q2 earnings before market open Wednesday, July 23, with a conference call scheduled for 10:00 a.m. ET.
Analysts are looking for EPS of $1.17 on revenue of $364.14M. The consensus range for EPS is $1.15 to $1.19, while the consensus range for revenue is $345.71M to $375.01M, according to First Call. In May, Boston Properties acquired the General Motors Building and three other New York City buildings from Macklowe Properties for about $3.949B.
Banc of America viewed the deal at the time as a positive move for Boston Properties. Investors will be trying to determine tomorrow whether the deal will help the company in the short term. Meanwhile, Wachovia today reduced their space absorption assumption for all of the commercial property companies they cover. The firm believes that deteriorating property and leasing conditions will affect the companies' 2009-2010 results more than this year's.