Boston Properties (NYSE:BXP) Updates FY 2024 Earnings Guidance

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 6.980-7.100 for the period, compared to the consensus estimate of 7.130. The company issued revenue guidance of -. Boston Properties also updated its FY24 guidance to $6.98-7.10 EPS.

Boston Properties Trading Down 1.5 %

NYSE:BXP traded down $0.95 on Tuesday, reaching $61.89. The stock had a trading volume of 1,180,268 shares, compared to its average volume of 1,421,962. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 51.15 and a beta of 1.15. Boston Properties has a 12-month low of $46.80 and a 12-month high of $73.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. The firm’s fifty day moving average is $62.94 and its two-hundred day moving average is $63.06.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. During the same quarter last year, the firm posted $1.86 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 annualized dividend and a yield of 6.33%. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

Analyst Ratings Changes

A number of research analysts have recently commented on BXP shares. Truist Financial dropped their price objective on shares of Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research note on Tuesday, March 5th. StockNews.com upgraded shares of Boston Properties from a sell rating to a hold rating in a report on Thursday, February 1st. BMO Capital Markets dropped their price objective on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a report on Monday, April 8th. Barclays reduced their target price on Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a research note on Tuesday, January 30th. They set a hold rating and a $74.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $69.44.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.35% of the stock is owned by company insiders.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.