BXP Inc

BXP: XNYS (USA)
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BXP Earnings: Office Outlook Improves as Economy Is Expected to Remain Resilient

No-moat-rated BXP posted a decent set of numbers in the third quarter as the firm reported funds from operations of $287 million or $1.81 per share down 3% compared with the $293 million or $1.86 per share in the third quarter of the previous year. The company slightly updated its 2024 full-year FFO guidance to $7.09-$7.11 per diluted share, a decrease of approximately $0.02 per share at the midpoint. We are maintaining our $91 per share fair value estimate for BXP after incorporating the third-quarter results.

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