Brokerages Anticipate Boston Properties, Inc. (BXP) to Post $1.61 Earnings Per Share
Equities research analysts expect Boston Properties, Inc. (NYSE:BXP) to announce $1.61 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Boston Properties’ earnings, with estimates ranging from $1.58 to $1.63. Boston Properties reported earnings of $1.43 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Boston Properties will report full year earnings of $6.20 per share for the current fiscal year, with EPS estimates ranging from $6.16 to $6.23. For the next year, analysts forecast that the company will post earnings of $6.60 per share, with EPS estimates ranging from $6.32 to $6.91. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Boston Properties.
Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $632.23 million during the quarter, compared to the consensus estimate of $637.34 million. Boston Properties had a net margin of 16.94% and a return on equity of 5.54%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share.
A number of equities analysts have recently commented on the company. Evercore ISI reaffirmed an “in-line” rating and issued a $133.00 price target (down from $138.00) on shares of Boston Properties in a report on Friday, April 28th. BidaskClub raised Boston Properties from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Barclays PLC lifted their price target on Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. TheStreet lowered Boston Properties from a “b-” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $145.00 price target on shares of Boston Properties in a research note on Thursday, March 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $139.47.
Boston Properties (NYSE:BXP) traded down 0.80% during mid-day trading on Monday, reaching $125.11. The company had a trading volume of 248,944 shares. The stock has a 50-day moving average of $123.10 and a 200 day moving average of $129.17. Boston Properties has a 12-month low of $113.69 and a 12-month high of $144.02. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 46.17 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.38%. Boston Properties’s dividend payout ratio (DPR) is 111.11%.
A number of large investors have recently modified their holdings of BXP. BlackRock Inc. raised its stake in shares of Boston Properties by 2,333.7% in the first quarter. BlackRock Inc. now owns 14,650,487 shares of the real estate investment trust’s stock worth $1,939,871,000 after buying an additional 14,048,513 shares during the last quarter. Norges Bank acquired a new stake in shares of Boston Properties during the fourth quarter worth about $562,408,000. JPMorgan Chase & Co. raised its stake in shares of Boston Properties by 45.5% in the first quarter. JPMorgan Chase & Co. now owns 3,942,489 shares of the real estate investment trust’s stock worth $522,026,000 after buying an additional 1,233,425 shares during the last quarter. Brookfield Asset Management Inc. acquired a new stake in shares of Boston Properties during the fourth quarter worth about $83,988,000. Finally, Vanguard Group Inc. raised its stake in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock worth $2,939,641,000 after buying an additional 398,674 shares during the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.
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About Boston Properties
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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