Boston Properties To Offer Up To $600 Million In Stock Over 3 Years

Date : 06/02/2011 @ 5:50PM
Source : Dow Jones News
Stock : Boston Properties, Inc. (BXP)
Quote : 126.6  0.61 (0.48%) @ 4:02PM

Boston Properties To Offer Up To $600 Million In Stock Over 3 Years

Boston Properties (NYSE:BXP)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Boston Properties Charts.
   DOW JONES NEWSWIRES 
 

Boston Properties Inc. (BXP) plans to sell up to $600 million in common stock through an at-the-market offering over three years as the real estate investment trust looks to raise cash for a host of purposes.

The REIT said it will contribute proceeds from the offering to its limited partnership, which will use the funds for general business purposes, including investment opportunities and debt reduction.

The company's assets--located in places like midtown Manhattan, Boston and Washington D.C.--didn't suffer as much during the housing downturn as those in other areas, and have been among the quickest to recover. In its latest first quarter, results beat views as funds from operations rose on higher rent, although leasing occupancy deteriorated.

Shares were off 1.1% at $103.36 in after-hours trading Thursday. The stock is up 37% over the past 12 months.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.