Boston Properties, Inc. – Company Information
|Company||Boston Properties Inc.|
|Headquarters||Prudential Center, 800 Boylston Street, Suite 1900 Boston, MA 02199-8103, USA|
|CEO||Owen D. Thomas|
|CFO||Michael E. LaBelle|
|NYSE stock symbol||BXP|
|Revenue||$2.396 billion (2014)|
|Net income||$526.057 million (2014)|
|Earnings per share||$2.83 USD (2014)|
|Corporate contact number:||(617) 236-3300|
Boston Properties, Inc. is an American real estate investment trust (REIT), based in Boston, Massachusetts.
A REIT is a company that owns and operates income-producing real estate, including: apartments, offices, shopping centers, warehouses, and hotels.
In order to be considered a REIT, the company has to distribute a minimum of 90 percent of its taxable income to its shareholders every year.
Boston Properties is one of the country’s leading developers, managers, and owners of office properties.
Its four main markets are in New York, San Francisco, Washington, DC., and Boston.
Its property portfolio mainly consists of Class A office properties, in addition to three residential properties, four retail properties, and hotels.
One of the most notable office buildings that Boston Properties has a majority ownership share in is the General Motors Building in New York City – valued at around US$2.8 billion.
Boston Properties operates as a full-service real estate company, with in-house expertise and resources in acquisitions, financing, development, construction management, financing, marketing, capital markets, property management, accounting, leasing, tax and legal services.
Boston Properties Inc. was founded in 1970 by Edward H. Linde and Mortimer Zuckerman. In 1997 the company was publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘BXP’.
|Income statement data (in $ thousands)||2014*||2013*|
|Total rental revenue||$2,328,297||$2,065,514|
|Income from continuing operations||$358,018||$703,648|
|Income from discontinued operations||$ –||$8,022|
|Net income attributable to Boston Properties, Inc||$443,611||$749,811|
|Net income attributable to Boston Properties, Inc. common shareholders||$433,111||$741,754|
|Balance sheet data (in $ thousands)|
|Common share data (in $)|
|Earnings per Common Share – Basic||$2.83||$4.87|
|Earnings per Common Share – Diluted||$2.83||$4.86|
|Cash flow data (in $ thousands)|
|Net cash provided by operating activities||$695,553||$777,926|
|Net cash used in investing activities||$(665,124)||$(532,640)|
|Net cash provided by (used in) financing activities||$(632,487)||$1,007,873|
|Cash and cash equivalents balance at beginning of year||$2,365,137||$1,041,978|
|Cash and cash equivalents balance at end of year||$1,763,079||$2,365,137|
*Years Ended December 31