Boston Properties Raises 2018 Forecast

   By Maria Armental

Boston Properties Inc. (BXP) on Tuesday raised financial projections for 2018, citing gains on real-estate sales and lower interest expenses.

The company, one of the country's largest office real-estate investment trusts, now projects profit of $3.24 to $3.37 a share and $6.23 to $6.36 a share in funds from operations, a key performance metric for REITs. Previously, it had forecast profit of $2.65 to $2.81 a share and FFO of $6.20 to $6.36 a share.

Overall, the Boston-based company reported a 29% fourth-profit decline to $103.8 million, or 67 cents a share. The year-ago results had been boosted by an investment gain.

FFO were $1.49 a share, down from $1.54 in the year-ago quarter.

Revenue rose 3% to $655.2 million, compared with analysts' projected $643.2 million, according to Thomson Reuters.

The percentage of leased properties in its portfolio was 90.7%, compared with 90.2% in the previous and year-ago quarters.

Shares, down 8% over the past 12 months, edged up 0.5% to $120 in after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

January 30, 2018 19:15 ET (00:15 GMT)

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