Boston Properties Q4 Profit Rises; Sees Q1 FFO Per Share Between $1.21-$1.23

(RTTNews) - Boston Properties, Inc. (BXP), a real estate investment trust, reported that its fourth-quarter net income available to shareholders increased to $88.7 million from $65.4 million, last year. Net income per share was $0.58 compared to $0.43, a year ago. Income from continuing operations was $79.40 million, compared to $74.25 million, previous year. Income per share from continuing operations was $0.42, flat with prior year.

Funds from operations was $197.6 million, or $1.29 per share. This compares to FFO of $192.5 million, or $1.27 per share, a year ago.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.25 for the quarter. Analysts' estimates typically exclude special items.

Total revenue rose year-over-year to $576.20 million, from $478.05 million. Analysts expected revenue of $554.43 million for the quarter.

The company expects its first-quarter earnings per share in the range of $0.25 to $0.27. FFO per share is projected to be in the range of $1.21-$1.23. Analysts expect the company to report first-quarter earnings per share of $1.26. The company expects its full year 2014 earnings per share in the range of $1.40 to $1.53. FFO per share is projected to be in the range of $5.20-$5.33. Analysts expect the company to report full year 2014 earnings per share of $5.33.