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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a report on Thursday, February 1st. BMO Capital Markets reduced their price target on shares of Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $74.00 target price for the company. Truist Financial lowered their price objective on shares of Boston Properties from $77.00 to $75.00 and set a hold rating on the stock in a research report on Tuesday, March 5th. Finally, Jefferies Financial Group upgraded Boston Properties from a hold rating to a buy rating and raised their price target for the stock from $57.00 to $80.00 in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $69.44.

Boston Properties Price Performance

Shares of Boston Properties stock traded down $0.95 on Tuesday, hitting $61.89. 1,180,268 shares of the company traded hands, compared to its average volume of 1,421,962. The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40. The business has a 50-day simple moving average of $62.94 and a 200 day simple moving average of $63.06. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The stock has a market capitalization of $9.72 billion, a P/E ratio of 51.15 and a beta of 1.15.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The firm had revenue of $828.90 million for the quarter, compared to analysts’ expectations of $811.59 million. During the same period last year, the company earned $1.86 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Research analysts expect that Boston Properties will post 7.12 earnings per share 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. Stockholders of record on Thursday, March 28th will be issued a $0.98 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.33%. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

Insider Transactions at Boston Properties

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

About Boston Properties

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.