Boston Properties (NYSE:BXP) Updates Q3 2022 Earnings Guidance

Boston Properties (NYSE:BXPGet Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.86-$1.88 for the period. The company issued revenue guidance of -. Boston Properties also updated its FY 2022 guidance to $7.48-$7.53 EPS.

Boston Properties Price Performance

Shares of BXP traded up $1.08 during mid-day trading on Friday, hitting $91.16. The company’s stock had a trading volume of 1,745,792 shares, compared to its average volume of 979,562. The firm has a 50-day moving average price of $94.73 and a 200 day moving average price of $111.57. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.06 and a beta of 1.15. The company has a debt-to-equity ratio of 1.65, a current ratio of 4.73 and a quick ratio of 4.73. Boston Properties has a fifty-two week low of $84.86 and a fifty-two week high of $133.11.

Boston Properties (NYSE:BXPGet Rating) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. Boston Properties had a net margin of 22.04% and a return on equity of 8.19%. During the same period in the prior year, the company earned $1.72 EPS. On average, research analysts predict that Boston Properties will post 7.48 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Wednesday, June 29th. Boston Properties’s dividend payout ratio is currently 93.33%.

Wall Street Analyst Weigh In

BXP has been the subject of a number of analyst reports. Credit Suisse Group assumed coverage on shares of Boston Properties in a research note on Wednesday, June 22nd. They issued an outperform rating and a $108.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of Boston Properties from $120.00 to $112.00 and set a sell rating on the stock in a research report on Wednesday, May 25th. Piper Sandler lowered shares of Boston Properties from an overweight rating to a neutral rating and lowered their price target for the company from $120.00 to $100.00 in a report on Thursday. Mizuho lowered their price target on shares of Boston Properties from $135.00 to $105.00 and set a buy rating on the stock in a report on Wednesday, July 6th. Finally, StockNews.com lowered shares of Boston Properties from a hold rating to a sell rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Boston Properties presently has an average rating of Hold and a consensus price target of $110.36.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Prudential PLC bought a new position in Boston Properties during the 1st quarter worth approximately $413,000. Private Advisor Group LLC acquired a new stake in Boston Properties during the 1st quarter worth approximately $403,000. Founders Financial Securities LLC raised its holdings in shares of Boston Properties by 9.2% in the first quarter. Founders Financial Securities LLC now owns 2,843 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 239 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Boston Properties by 17.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,714 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 396 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in Boston Properties during the first quarter worth $349,000. Institutional investors own 98.02% of the company’s stock.

Boston Properties Company Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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Earnings History and Estimates for Boston Properties (NYSE:BXP)

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