Boston Properties, Inc. (NYSE:BXP) Q1 2020 Earnings Conference Call April 29, 2020 10:00 AM ET Corporate Participants Sara Buda - Vice President of Investor Relations Owen Thomas - Chief Executive Officer Doug Linde - President Mike LaBelle - Chief Financial Officer Rob Pester - Executive Vice President of San Francisco Region John Powers - Executive Vice President of New York Region Conference Call participants Jamie Feldman - Bank of America Vikram Malhotra - Morgan Stanley Steve Sakwa - Evercore ISI Crai ...

业绩总结 - 波士顿地产公司2020年第一季度的净收入为497,496千美元，较2019年第四季度的140,824千美元增长了253.3%[9] - 每股稀释后净收入为3.20美元，相较于2019年第四季度的0.91美元增长了251.6%[11] - 2020年第一季度的总收入为752,556千美元，较2019年第四季度的757,501千美元下降了0.6%[11] - 2020年第一季度的资金可分配给普通股东和普通合伙人的资金（FAD）为235,890千美元，较2019年第四季度的185,828千美元增长了27.0%[16] - 2020年第一季度的净运营收入（NOI）为471,653千美元，较2019年同期的447,715千美元增长了5.3%[17] 用户数据 - 截至2020年3月31日，公司在用物业的出租率为92.9%，较2019年第四季度的93.0%略有下降[9] - 2020年第一季度的租金收入（不包括终止收入）为715,480千美元，较2019年同期的688,441千美元增长了3.9%[19] - 2020年第一季度的租金收入（不包括终止收入）为698,699千美元，同比增长4.0%[20] - 2020年第一季度的空置面积净增加为49,902平方英尺，期末空置面积为3,185,072平方英尺[31] 财务指标 - 2020年第一季度的FFO（资金运营收益）为284,062千美元，较2019年第四季度的289,937千美元下降了2.0%[9] - 2020年第一季度的利息覆盖率（不包括资本化利息）为4.22，较2019年第四季度的4.10有所上升[9] - 2020年第一季度的FAD支付比率为71.92%，较2019年第四季度的91.12%下降了19.8%[16] - 2020年第一季度的总资产为21,829,698千美元，较2019年第四季度的21,284,905千美元增长了2.6%[10] - 公司的总债务为12,061,224千美元，固定利率债务占总债务的93.79%[51] 市场扩张与新项目 - 截至2020年3月31日，公司在建的办公和零售物业总面积为4,198,000平方英尺，投资总额为914,545千美元，整体出租率为74%[26] - 2020年第一季度，公司新租赁的总面积为1,316,479平方英尺，净租金增长率为93.22%[31] - 2020年第一季度收购的物业总面积为312,828平方英尺，初始投资为354,864千美元[24] - 2020年第一季度处置的物业总面积为1,260,837平方英尺，毛销售价格为606,000千美元，账面收益为410,036千美元[25] 负面信息 - 公司在开发和重建项目中面临的风险包括COVID-19疫情的影响和材料供应中断[2] - 由于COVID-19，波士顿万豪酒店在2020年3月关闭，影响了酒店收入[38] - 酒店物业的平均入住率为59.60%，较2019年同期的80.20%下降了25.69%[37] 其他新策略与有价值信息 - 公司在可持续发展方面表现优异，获得了连续八年的GRESB绿色星级认证和最高的5星评级[1] - 公司在财务报告中采用了非GAAP财务措施，并提供了与GAAP财务措施的定量调节[3] - BXP的EBITDAre（现金）为409,146千美元，较2019年第四季度的401,646千美元增长了1.25%[55] - BXP的固定费用覆盖比率为3.03，较2019年第四季度的2.84有所上升[58]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13087 (Boston Properties, Inc.) Commission File Number: 0-50209 (Boston Properties Limited Partnership) BOSTON PROPERTIES, INC. ...

Boston Properties, Inc. (NYSE:BXP) Q4 2019 Earnings Conference Call January 29, 2020 10:00 AM ET Company Participants Sara Buda - Vice President of Investor Relations Owen Thomas - Chief Executive Officer Douglas Linde - President Michael LaBelle - Chief Financial Officer Raymond Ritchey - Senior Executive Vice President John Powers - Executive Vice President of New York Region Robert Pester - Executive Vice President of San Francisco Region Bryan Koop - Executive Vice President of Boston Region Conference ...

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13087 (Boston Properties, Inc.) Commission File Number: 0-50209 (Boston Properties Limited Partnership) BOSTON PROPERTIES, ...

Supplemental Operating and Financial Data for the Quarter Ended September 30, 2019 THE COMPANY Boston Properties, Inc. (NYSE: BXP) ("Boston Properties," "BXP" or the "Company") is the largest publicly-traded developer, owner and manager of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manage ...

Boston Properties, Inc. (NYSE:BXP) Q3 2019 Earnings Conference Call October 30, 2019 10:00 AM ET Corporate Participants Sara Buda - Vice President, Investor Relations Owen Thomas - Chief Executive Officer Doug Linde - President Mike LaBelle - Chief Financial Officer Bryan Koop - Senior Vice President- Regional Manager Ray Ritchey - Senior Executive Vice President John Powers - EVP New York Region Conference Call Participants Nick Yulico - Scotiabank Emmanuel Korchman - Citi John Kim - BMO Capital Markets Cr ...

Table of Content Securities registered pursuant to Section 12(b) of the Act: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13087 (Boston Properties, Inc.) Commission File Number: 0-50209 (Bo ...

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2019 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13087 (Boston Properties, Inc.) Commission File Number: 0-50209 (Boston Properties Limited Partnership) | --- | --- | --- | |- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13087 (Boston Properties, Inc.) Commission File Number: 0-50209 (Boston Properties Limited Partnership) | --- | --- | --- | --- ...