
Office REIT giant Boston Properties (BXP) has produced a massive rally thus far in 2019. However, that rally began from what could be considered artificially low prices at the end of 2018 as the sharp, broad selloff in the markets tanked the trust’s shares. Still, this year has been a good one for Boston Properties, so the logical question for investors to ask is whether or not the good times can continue to roll. In my view, I believe they can, and I think the REIT looks fairly attractive at current levels.
Boston Properties’ size and scale is absolutely massive in the highly fragmented world of office space. There are seemingly limitless owners of such space, and they come in all shapes and sizes. Boston Properties, however, has a scale advantage over just about all of its competitors, as seen below. Indeed, Boston Properties is the largest publicly-traded owner and developer of class-A office space in the US.
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