Boston Properties, Inc. (BXP) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Boston Properties, Inc. (NYSE:BXP) released its quarterly earnings data on Wednesday. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.03, Bloomberg Earnings reports. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The company had revenue of $657.70 million during the quarter, compared to the consensus estimate of $649.84 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Boston Properties updated its Q4 guidance to $1.53-1.54 EPS and its FY18 guidance to $6.20 – $6.36 EPS.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, September 28th. Boston Properties’s dividend payout ratio is presently 102.04%.
Several research analysts have recently issued reports on the company. TheStreet raised Boston Properties from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada downgraded Boston Properties from a “top pick” rating to an “outperform” rating and lowered their price objective for the company from $150.00 to $140.00 in a research note on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $124.00 price objective on shares of Boston Properties in a research note on Tuesday, October 24th. BidaskClub downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Boston Properties presently has an average rating of “Hold” and an average price target of $134.50.
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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