$638.33 Million in Sales Expected for Boston Properties, Inc. (BXP) This Quarter

Wall Street analysts expect Boston Properties, Inc. (NYSE:BXP) to announce $638.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Boston Properties’ earnings, with estimates ranging from $602.47 million to $654.60 million. Boston Properties reported sales of $636.06 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.4%. The firm is expected to issue its next quarterly earnings report after the market closes on Tuesday, January 30th.

On average, analysts expect that Boston Properties will report full year sales of $638.33 million for the current fiscal year, with estimates ranging from $2.39 billion to $2.70 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.65 billion per share, with estimates ranging from $2.52 billion to $2.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Boston Properties.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.03. The business had revenue of $657.70 million for the quarter, compared to analysts’ expectations of $649.84 million. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share.

BXP has been the topic of several research reports. SunTrust Banks reissued a “hold” rating and set a $130.00 price target on shares of Boston Properties in a research report on Monday, October 9th. Argus reduced their price target on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 16th. Jefferies Group reissued a “hold” rating and set a $124.00 price target on shares of Boston Properties in a research report on Tuesday, October 24th. Mizuho reissued a “hold” rating and set a $122.00 price target on shares of Boston Properties in a research report on Friday, November 3rd. Finally, Royal Bank of Canada set a $140.00 price target on shares of Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $131.00.

Shares of Boston Properties (BXP) traded up $0.94 on Thursday, hitting $122.50. 844,400 shares of the stock traded hands, compared to its average volume of 805,627. The firm has a market capitalization of $18,900.00, a PE ratio of 38.16, a PEG ratio of 3.42 and a beta of 0.63. Boston Properties has a 1-year low of $116.77 and a 1-year high of $140.13. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.44 and a quick ratio of 0.44.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be issued a $0.80 dividend. This is a boost from Boston Properties’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, December 28th. This represents a $3.20 annualized dividend and a yield of 2.61%. Boston Properties’s dividend payout ratio (DPR) is 99.69%.

In related news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the sale, the insider now owns 585 shares of the company’s stock, valued at $72,861.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.17% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in Boston Properties by 0.8% in the third quarter. Swiss National Bank now owns 667,935 shares of the real estate investment trust’s stock valued at $82,076,000 after purchasing an additional 5,300 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Boston Properties by 6.4% in the third quarter. Daiwa Securities Group Inc. now owns 27,676 shares of the real estate investment trust’s stock valued at $3,401,000 after purchasing an additional 1,676 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Boston Properties by 9.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,550 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 1,119 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Boston Properties in the second quarter valued at approximately $4,603,000. Finally, Citigroup Inc. increased its stake in Boston Properties by 31.6% in the second quarter. Citigroup Inc. now owns 184,025 shares of the real estate investment trust’s stock valued at $22,638,000 after purchasing an additional 44,199 shares during the last quarter. Institutional investors own 95.34% 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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