On July 26, Boston Properties
- A large increase in net income and earnings per share (EPS) reflects asset sales.
- Funds from operations (FFO) and net operating income growth are solid, considering the loss of revenue from asset sales.
- The company is improving occupancy and same-store net operating income performance.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q2 2006 |
Q2 2005 |
Change |
|
|---|---|---|---|---|
|
Sales |
$325,610 |
$370,349 |
$357,935 |
3.5% |
|
Funds From Operations |
-- |
$129,390 |
$121,309 |
6.7% |
|
FFO Per Share |
$1.04 |
$1.10 |
$1.06 |
3.8% |
|
Net Operating Income |
$233,352 |
$231,932 |
0.6% |
|
|
Net Income |
$626,033 |
$165,490 |
278.3% |
|
|
EPS |
$5.24 |
$1.43 |
266.4% |
|
|
Diluted Shares |
120,605 |
118,460 |
1.8% |
Get back to basics with a look at the income statement.
Balance Sheet Highlights
|
Assets |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Investment in Properties |
$8,999,938 |
$9,075,817 |
(0.8%) |
|
Prop. Net of Depreciation |
$7,685,466 |
$7,885,352 |
(2.5%) |
|
Cash |
$370,396 |
$507,182 |
(27%) |
|
Liabilities & Equities |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Total Debt |
$4,833,401 |
$4,898,757 |
(1.3%) |
|
Market Value of Equity |
$12,682,306 |
$9,687,230 |
30.9% |
Learn the ways of the balance sheet.
Ratio Highlights
|
Q2 2006 |
Q2 2005 |
Change* |
|
|---|---|---|---|
|
Occupancy |
94.4% |
93.2% |
1.2% |
|
Same Store NOI Growth |
2.6% |
0.4% |
2.2% |
|
Total Debt-to-Total Market Cap |
27.6% |
33.6% |
(6%) |
Related Companies:
-
Equity Office Properties Trust
(NYSE:EOP) -
SL Green Realty
(NYSE:SLG) -
Reckson
Associates Realty
(NYSE:RA) -
Boston Properties
(NYSE:BXP) -
Mack-Cali Realty
(NYSE:CLI) -
HRPT Properties Trust
(NYSE:HRP)
Related Foolishness:
- The Truth About REITs
- Understanding Funds From Operations
- The Scoop on the NOI Number
- Getting to Know RevPAR
- Please Recycle . Your Capital
HRPT Properties Trust is a Motley Fool Income Investor selection. Take the newsletter for a 30-day free spin.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication,Nathan Parmelee had no positions in any of the companies mentioned. Fool rules are here.
