Boston Properties Q1 Profit Rises; Boosts 2014 Outlook - Quick Facts

(RTTNews) - Boston Properties, Inc. (BXP), a real estate investment trust, reported first-quarter net income available to shareholders of $54.0 million or $0.35 per share, higher than $47.9 million or $0.31 per share in the prior-year quarter.

Funds from operations was $183.8 million or $1.20 per share, compared to FFO of $160.6 million, or $1.06 per share a year ago.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $1.23 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter increased to $574.69 million from $477.83 million in the same quarter last year. Analysts expected revenue of $560.72 million for the quarter.

Looking ahead to the second quarter, the company expects earnings in a range of $0.71 to $0.73 per share, and FFO in the range of $1.32 to $1.34 per share. Analysts expect the company to report second-quarter earnings of $1.33 per share.

For fiscal 2014, the company currently projects earnings in the range of $1.95 to $2.03 per share, and FFO in the range of $5.25 to $5.33 per share. Street is currently looking for full-year 2014 earnings of $5.30 per share.

Earlier, the company projected earnings in the range of $1.40 to $1.53 per share, and FFO in the range of $5.20 to $5.33 per share.