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

Boston Properties (NYSE:BXP – Get Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided EPS 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Boston Properties from $131.00 to $98.00 and set a neutral rating for the company in a research note on Thursday. Piper Sandler downgraded Boston Properties from an overweight rating to a neutral rating and reduced their price target for the company from $120.00 to $100.00 in a report on Thursday. Mizuho cut their target price on Boston Properties from $135.00 to $105.00 and set a buy rating on the stock in a research report on Wednesday, July 6th. Wells Fargo & Company decreased their price target on shares of Boston Properties from $143.00 to $105.00 and set an overweight rating for the company in a research report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Properties from $139.00 to $104.00 in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $110.36.

Boston Properties Price Performance

Shares of Boston Properties stock traded up $1.08 during trading on Friday, hitting $91.16. The stock had a trading volume of 1,745,792 shares, compared to its average volume of 979,562. The business has a fifty day moving average of $94.73 and a two-hundred day moving average of $111.57. Boston Properties has a fifty-two week low of $84.86 and a fifty-two week high of $133.11. The firm has a market cap of $14.29 billion, a P/E 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 (NYSE:BXP – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 earnings per share (EPS) 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 last year, the business earned $1.72 EPS. On average, sell-side analysts expect that Boston Properties will post 7.48 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, June 30th were given a $0.98 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $3.92 annualized dividend and a dividend yield of 4.30%. Boston Properties’s dividend payout ratio (DPR) is presently 93.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BXP. Kinneret Advisory LLC lifted its stake in Boston Properties by 2.3% in the first quarter. Kinneret Advisory LLC now owns 4,043 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 90 shares during the last quarter. Toroso Investments LLC lifted its stake in shares of Boston Properties by 6.7% in the 1st quarter. Toroso Investments LLC now owns 1,915 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 121 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Boston Properties by 0.4% in the first quarter. Yousif Capital Management LLC now owns 28,520 shares of the real estate investment trust’s stock worth $3,673,000 after purchasing an additional 125 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in Boston Properties by 5.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 4,397 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 225 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in Boston Properties by 0.3% during the first quarter. Eaton Vance Management now owns 69,858 shares of the real estate investment trust’s stock valued at $8,997,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.