Boston Properties: 3Q Earnings Snapshot

BOSTON (AP) _ Boston Properties Inc. (BXP) on Tuesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Boston-based real estate investment trust said it had funds from operations of $253.8 million, or $1.64 per share, in the period.

The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.63 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $119.1 million, or 77 cents per share.

The real estate investment trust posted revenue of $686.3 million in the period. Its adjusted revenue was $628.3 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $627.9 million.

Boston Properties expects full-year funds from operations to be $6.39 to $6.41 per share.

The company's shares have dropped almost 10 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $117.20, a decline of slightly more than 3 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BXP at