KeyBanc starts BXP at Sector Weight, sees limited downside risk

KeyBanc initiated coverage of BXP with a Sector Weight rating. The firm views BXP as well-positioned given its diversified portfolio and significant exposure to premier assets, resulting in maintenance of above-average same store occupancy levels relative to peers since the start of the pandemic, Downside risk is likely limited due to the company’s $3.1B in liquidity, balanced maturity schedule, and the minimal lease expirations by 2025, the analyst tells investors in a research note.