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Boston Properties (BXP) Renews $600M ATM Offering Program

Boston Properties, Inc.BXP has announced that it will renew its at the market (ATM) equity-offering program. The Massachusetts-based real estate investment trust (REIT) is set to sell up to $600 million of its common shares through this program.

This new program replaces the previous $600 million ATM program of the company which was slated to expire on Jun 3, 2017. The renewed program will allow Boston Properties to sell up to $600 million of common shares from time to time for a three-year period.

Boston Properties owns and develops Class A office real estates in the U.S. The company enjoys adequate liquidity which allows it to meet the required capital needs, including the completion of the development pipeline.

Shares of Boston Properties have underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. Shares of the company decreased 9.7%, while the industry grew 2.3%. In the last 30 days, both its second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved up.

Currently, Host Hotels carries a Zacks Rank #3 (Hold).

Investors interested in the REIT space, may consider better-ranked stocks like DiamondRock Hospitality Company DRH , Gaming and Leisure Properties, Inc. GLPI and PS Business Parks, Inc. PSB , each carrying a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

In the last 30 days, DiamondRock Hospitality Company's FFO per share for second-quarter 2017 remained unchanged at 31 cents.

In the last 30 days, Gaming and Leisure Properties' FFO per share for second-quarter 2017 remained unchanged at 77 cents.

In the last 30 days, PS Business Parkss FFO per share for second-quarter 2017 moved up 2% to $1.53.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share .

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Boston Properties, Inc. (BXP): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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