Boston Properties (NYSE:BXP) Releases Q2 Earnings Guidance

Boston Properties (NYSE:BXP) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.70-1.72 for the period, compared to the consensus estimate of $1.78. Boston Properties also updated its FY 2024 guidance to 6.980-7.100 EPS.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a research report on Thursday, February 1st. Jefferies Financial Group upgraded Boston Properties from a hold rating to a buy rating and upped their target price for the company from $57.00 to $80.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a research report on Tuesday, January 30th. They set a hold rating and a $74.00 target price on the stock. BMO Capital Markets cut their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research report on Monday, April 8th. Finally, Barclays cut their target price on Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $69.44.

Boston Properties Stock Down 1.5 %

NYSE:BXP traded down $0.95 on Tuesday, hitting $61.89. The stock had a trading volume of 1,180,268 shares, compared to its average volume of 1,421,962. The business’s fifty day moving average is $62.94 and its 200 day moving average is $63.06. The company has a market cap of $9.72 billion, a PE ratio of 51.15 and a beta of 1.15. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97.

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

Boston Properties Dividend Announcement

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

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.