Boston Properties: Q3 Earnings Snapshot

BOSTON (AP) — BOSTON (AP) — Boston Properties Inc. (BXP) on Wednesday 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.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.85 per share.

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. Five analysts surveyed by Zacks expected $767.2 million.

Boston Properties expects full-year funds from operations in the range of $7.25 to $7.27 per share.

The company's shares have dropped 21% since the beginning of the year, while the S&P's 500 index has climbed 10%. In the final minutes of trading on Wednesday, shares hit $53.50, a drop of 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BXP at https://www.zacks.com/ap/BXP