Boston Properties, Inc. (BXP) Expected to Post Quarterly Sales of $630.37 Million
Equities research analysts forecast that Boston Properties, Inc. (NYSE:BXP) will announce sales of $630.37 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Boston Properties’ earnings. The highest sales estimate is $648.99 million and the lowest is $594.11 million. Boston Properties reported sales of $623.55 million in the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 25th.
On average, analysts expect that Boston Properties will report full year sales of $630.37 million for the current fiscal year, with estimates ranging from $2.37 billion to $2.65 billion. For the next financial year, analysts anticipate that the company will report sales of $2.67 billion per share, with estimates ranging from $2.56 billion to $2.8 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Boston Properties.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $632.23 million for the quarter, compared to analysts’ expectations of $637.34 million. Boston Properties had a net margin of 20.04% and a return on equity of 6.63%. Boston Properties’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share.
Several research firms recently weighed in on BXP. Jefferies Group LLC upped their price target on shares of Boston Properties from $113.00 to $122.00 and gave the stock a “hold” rating in a research report on Friday, February 17th. BMO Capital Markets restated a “buy” rating and set a $145.00 price target on shares of Boston Properties in a research report on Wednesday, April 5th. TheStreet upgraded shares of Boston Properties from a “c+” rating to a “b” rating in a research report on Tuesday, January 31st. Barclays PLC upped their price target on shares of Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. Finally, Evercore ISI restated an “in-line” rating and set a $133.00 price target (down previously from $138.00) on shares of Boston Properties in a research report on Friday, April 28th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $139.47.
In other news, insider Bryan J. Koop sold 3,835 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $131.16, for a total transaction of $502,998.60. Following the completion of the sale, the insider now owns 6,453 shares in the company, valued at approximately $846,375.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter D. Johnston sold 4,477 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $139.60, for a total transaction of $624,989.20. The disclosure for this sale can be found here. 6.17% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Brookfield Asset Management Inc. purchased a new stake in shares of Boston Properties during the fourth quarter worth about $83,988,000. Concentric Wealth Management LLC bought a new position in Boston Properties during the fourth quarter worth $1,227,000. Zurich Insurance Group Ltd FI boosted its position in Boston Properties by 46.3% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 29,673 shares of the real estate investment trust’s stock worth $3,732,000 after buying an additional 9,397 shares during the last quarter. IFM Investors Pty Ltd bought a new position in Boston Properties during the fourth quarter worth $294,000. Finally, ING Groep NV boosted its position in Boston Properties by 56.0% in the fourth quarter. ING Groep NV now owns 8,859 shares of the real estate investment trust’s stock worth $1,096,000 after buying an additional 3,180 shares during the last quarter. Institutional investors and hedge funds own 94.57% of the company’s stock.
Boston Properties (NYSE:BXP) traded down 0.53% during midday trading on Friday, reaching $121.35. The company’s stock had a trading volume of 400,926 shares. The stock’s 50 day moving average price is $127.56 and its 200-day moving average price is $128.97. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 44.78 and a beta of 0.62. Boston Properties has a one year low of $113.69 and a one year high of $144.02.
The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.47%. Boston Properties’s dividend payout ratio is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Boston Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.