Boston Properties Inc.’s BXP fourth-quarter 2020 funds from operations (FFO) per share of $1.37 missed the Zacks Consensus Estimate of $1.60. The reported figure also decreased 26.7% from the year-ago quarter’s $1.87.The reported figure included a non-cash charge to lease revenues of 22 cents related to the write-off of accrued rent for all tenants in the co-working sector.Quarterly revenues from lease were $639.4 million, missing the Zacks Consensus Estimate of $667.4 million. Also, the reported figure is 9.5% lower than the prior year’s $692.2 million.The company also revealed its rental receipts for the fourth quarter, announcing a collection of 99.6% of the total rents from office tenants. The company collected 99% of the total rent from all commercial tenants, including base rent from retail tenants.For 2020, it reported core FFO per share of $6.29, down 10.3% from $7.01 in the prior year and also missed the Zacks Consensus Estimate of $6.52. Further, total revenues of $2.8 billion declined 6.6% year over year.Inside the Headline NumbersDuring the fourth quarter, the company completed leases and renewals spanning 1.2 million square feet, with a weighted average lease term of about eight years. This included the new 75,000-sq-ft lease, with a healthcare technology company, at 20 CityPoint in Waltham, MA, for seven years. With this lease, the property is fully leased.Further, in 2020 the company signed 3.7 million square feet of leases. Also, it completed the sale of several properties and land parcels during the year, totaling $537.7 million in net proceeds.As of Dec 31, 2020, Boston Properties’ portfolio comprised 196 properties, covering 51.2 million square feet of space. This included six under-construction properties.LiquidityBoston Properties exited fourth-quarter 2020 with $1.7 billion of cash balance and $50.6 million of cash held in escrow.OutlookThe company projects first-quarter 2021 FFO per share of $1.53-$1.57. The guided range is well below the Zacks Consensus Estimate of $1.63.Boston Properties, Inc. Price and EPS Surprise Boston Properties, Inc. price-eps-surprise | Boston Properties, Inc. QuoteBoston Properties currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.We now look forward to the earnings releases of other REITs like Welltower Inc. WELL, Highwoods Properties HIW and Healthpeak Properties PEAK. All three companies are slated to report fourth-quarter earnings on Feb 9.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Just Released: Zacks’ 7 Best Stocks for TodayExperts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Highwoods Properties, Inc. (HIW): Free Stock Analysis Report Boston Properties, Inc. (BXP): Free Stock Analysis Report Welltower Inc. (WELL): Free Stock Analysis Report Healthpeak Properties, Inc. (PEAK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research