Zacks: Brokerages Anticipate Boston Properties, Inc. (BXP) to Post $1.61 Earnings Per Share
Analysts predict that Boston Properties, Inc. (NYSE:BXP) will post earnings per share of $1.61 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Boston Properties’ earnings, with the highest EPS estimate coming in at $1.63 and the lowest estimate coming in at $1.58. Boston Properties reported earnings of $1.43 per share during the same quarter last year, which would suggest a positive year over year growth rate of 12.6%. The firm is scheduled to issue its next earnings results on Tuesday, July 25th.
On average, analysts expect that Boston Properties will report full-year earnings of $6.21 per share for the current fiscal year, with EPS estimates ranging from $6.19 to $6.23. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.62 per share, with EPS estimates ranging from $6.32 to $6.91. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Boston Properties.
Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by $0.02. Boston Properties had a net margin of 20.04% and a return on equity of 6.63%. The firm had revenue of $632.23 million during the quarter, compared to the consensus estimate of $637.34 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis.
BXP has been the subject of a number of research analyst reports. Evercore ISI reaffirmed an “in-line” rating and set a $133.00 price objective (down from $138.00) on shares of Boston Properties in a report on Friday, April 28th. Barclays PLC lifted their price objective on shares of Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. TheStreet downgraded shares of Boston Properties from a “b-” rating to a “c” rating in a report on Wednesday, May 17th. BMO Capital Markets reaffirmed a “buy” rating and set a $145.00 price objective on shares of Boston Properties in a report on Thursday, March 2nd. Finally, Jefferies Group LLC lifted their price objective on shares of Boston Properties from $113.00 to $122.00 and gave the stock a “hold” rating in a report on Friday, February 17th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $139.47.
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In other news, insider Peter D. Johnston sold 4,477 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $139.60, for a total transaction of $624,989.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan J. Koop sold 3,835 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $131.16, for a total transaction of $502,998.60. Following the transaction, the insider now directly owns 6,453 shares of the company’s stock, valued at $846,375.48. The disclosure for this sale can be found here. Corporate insiders own 6.17% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Boston Properties during the first quarter valued at approximately $200,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Boston Properties by 1.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,550 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 15 shares during the period. Carnegie Capital Asset Management LLC purchased a new position in shares of Boston Properties during the third quarter valued at approximately $202,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Boston Properties during the fourth quarter valued at approximately $206,000. Finally, Atria Investments LLC purchased a new position in shares of Boston Properties during the first quarter valued at approximately $224,000. 94.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Boston Properties (NYSE:BXP) traded down 0.05% on Wednesday, hitting $121.78. The stock had a trading volume of 260,261 shares. Boston Properties has a 1-year low of $113.69 and a 1-year high of $144.02. The firm has a 50-day moving average of $128.25 and a 200 day moving average of $129.08. The company has a market capitalization of $18.74 billion, a PE ratio of 44.94 and a beta of 0.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, March 29th. Boston Properties’s dividend payout ratio (DPR) is 92.31%.
Boston Properties Company Profile
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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