BOSTON (AP) — BOSTON (AP) — Boston Properties Inc. (BXP) Today reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Boston-based real estate investment trust said it had funds from operations of $292.8 million, or $1.86 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $111.8 million, or 71 cents per share.
The real estate investment trust posted revenue of $824.3 million in the period, which also beat Street forecasts.
Price Momentum BXP is trading near the bottom of its 52-week range and below its 200-day simple moving average.
What does this mean? Investors have been pushing the share price lower, and the stock still appears to have downward momentum. This is a negative sign for the stock's future value, but the stock could consolidate and find a correction afterwards surge.