Brokerages predict that Boston Properties, Inc. (NYSE:BXP) will report earnings of $1.58 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Boston Properties’ earnings. The highest EPS estimate is $1.67 and the lowest is $1.54. Boston Properties reported earnings of $1.83 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 13.7%. The business is scheduled to issue its next earnings report on Tuesday, April 27th.
According to Zacks, analysts expect that Boston Properties will report full-year earnings of $6.64 per share for the current fiscal year, with EPS estimates ranging from $6.51 to $6.86. For the next year, analysts expect that the firm will post earnings of $7.11 per share, with EPS estimates ranging from $6.84 to $7.39. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Boston Properties.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Monday, January 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.54). Boston Properties had a return on equity of 12.31% and a net margin of 35.17%. The business had revenue of $665.09 million for the quarter, compared to analyst estimates of $687.36 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year.
A number of brokerages have recently commented on BXP. Morgan Stanley upped their price target on Boston Properties from $91.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, December 14th. Smith Barney Citigroup upped their target price on Boston Properties from $87.00 to $105.00 in a research note on Tuesday, December 15th. Truist lowered Boston Properties from a “buy” rating to a “hold” rating and set a $109.00 target price for the company. in a research note on Monday, March 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Boston Properties from $87.00 to $105.00 in a research note on Tuesday, December 15th. Finally, Truist Securities restated a “hold” rating and issued a $109.00 target price on shares of Boston Properties in a research note on Monday, March 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $100.69.
Shares of BXP stock traded down $0.28 during trading hours on Wednesday, reaching $104.46. 21,109 shares of the company’s stock were exchanged, compared to its average volume of 1,164,158. Boston Properties has a fifty-two week low of $69.69 and a fifty-two week high of $110.36. The stock has a market capitalization of $16.30 billion, a P/E ratio of 16.37, a P/E/G ratio of 6.54 and a beta of 1.24. The business has a fifty day moving average price of $103.03 and a 200-day moving average price of $93.16. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 1.60.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, March 30th. Boston Properties’s payout ratio is presently 55.92%.
In other news, EVP Raymond A. Ritchey sold 5,000 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $105.20, for a total transaction of $526,000.00. Following the sale, the executive vice president now owns 55,000 shares in the company, valued at $5,786,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Private Capital Group LLC boosted its holdings in Boston Properties by 19.4% in the first quarter. Private Capital Group LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 167 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Boston Properties by 11.9% in the first quarter. State of Alaska Department of Revenue now owns 116,812 shares of the real estate investment trust’s stock valued at $11,827,000 after acquiring an additional 12,409 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in Boston Properties by 294.5% in the first quarter. NuWave Investment Management LLC now owns 789 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 589 shares during the last quarter. Baldwin Brothers Inc. MA boosted its holdings in Boston Properties by 730.0% in the first quarter. Baldwin Brothers Inc. MA now owns 415 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 365 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in Boston Properties in the first quarter valued at about $216,000. Institutional investors and hedge funds own 86.86% of the company’s stock.
About Boston Properties
Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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