Research Points to Upswing in Boston Finance Jobs
Posted on January 15, 2011
New stock analysis is pointing to an upswing in the number of Boston finance jobs.
Boston Properties, Inc. ( BXP | PowerRating: $85) has been picked by Standard & Poor’s Equity Research as its Focus Stock of the Week. BXP carries S&P’s highest investment recommendation of 5-STARS, or Strong Buy. Boston Properties is a real estate investment trust (REIT) that develops, acquires, operates and manages commercial properties, primarily office buildings.
“We consider BXP’s two largest markets as measured by operating income, New York City and Washington, DC, to be among the top-performing U.S. real estate markets,” said Royal Shepard, REITs Equity Analyst at Standard & Poor’s Equity Research. “We expect Manhattan to benefit from renewed hiring in the financial sector, as well as a vibrant tourism industry. The office market in the nation’s capital is benefiting from a large and growing workforce employed by the federal government.”
In 2011, Shepard looks for an increased flow of capital into the commercial real estate market, particularly from investors looking to take advantage of distressed sellers. He observes that in many cases, owners of properties purchased at the height of the commercial real estate cycle in 2006-2007 are now unable to service related mortgage debt. “As one of the largest and best capitalized REITs, BXP is particularly well positioned to take advantage of acquisition opportunities,” Mr. Shepard said.