REIT BXP raises 2026 FFO forecast amid return-to-office push

Office real estate investment trust BXP, formerly known as Boston Properties, forecast 2026 funds from operations above analysts' estimates on Tuesday amid a broader push by companies to bring employees back to workplaces.

Demand for office space is rebounding in major U.S. cities such as San Francisco, Los Angeles and New York as companies roll back pandemic-era remote working policies.

Here are some details:

• The Boston, Massachusetts-based company raised its 2026 forecast for FFO — a key metric for REIT performance — to between $6.99 and $7.05 per share, from $6.90 to $7.04 per share previously.
• The midpoint of the new FFO forecast is above analysts' average estimate of $6.96 per share, according to data compiled by LSEG.

BXP reported FFO of $1.78 per share for the quarter ended June 30, up from $1.71 a year earlier.

Quarterly revenue was $895.7 million, while analysts expected $860.3 million.

The company operates in six major U.S. markets, including New York and San Francisco.