Zacks Research Research Analysts Decrease Earnings Estimates for Boston Properties, Inc. (NYSE:BXP)

Boston Properties, Inc. (NYSE:BXP) – Research analysts at Zacks Research lowered their Q2 2024 EPS estimates for Boston Properties in a report released on Wednesday, April 10th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $1.76 per share for the quarter, down from their previous estimate of $1.77. The consensus estimate for Boston Properties’ current full-year earnings is $7.12 per share. Zacks Research also issued estimates for Boston Properties’ Q3 2024 earnings at $1.79 EPS, FY2024 earnings at $7.08 EPS and FY2026 earnings at $7.60 EPS.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The company had revenue of $828.90 million for the quarter, compared to analysts’ expectations of $811.59 million. During the same quarter in the previous year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

Several other equities research analysts have also weighed in on BXP. Piper Sandler lifted their price objective on Boston Properties from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Truist Financial lowered their target price on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, March 5th. Finally, Barclays dropped their target price on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Properties presently has an average rating of “Hold” and a consensus target price of $69.44.

Boston Properties Stock Performance

NYSE:BXP opened at $60.61 on Friday. The company has a market capitalization of $9.52 billion, a P/E ratio of 50.09 and a beta of 1.15. The business has a fifty day simple moving average of $63.92 and a two-hundred day simple moving average of $62.60. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. Boston Properties has a 1 year low of $46.80 and a 1 year high of $73.97.

Institutional Trading of Boston Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new stake in Boston Properties during the third quarter valued at about $904,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Boston Properties by 12.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after acquiring an additional 23,795 shares during the period. Whittier Trust Co. grew its position in Boston Properties by 345.4% during the 4th quarter. Whittier Trust Co. now owns 176,741 shares of the real estate investment trust’s stock worth $12,401,000 after acquiring an additional 137,058 shares during the last quarter. abrdn plc increased its stake in Boston Properties by 8.2% in the 3rd quarter. abrdn plc now owns 684,970 shares of the real estate investment trust’s stock worth $40,742,000 after purchasing an additional 51,926 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Boston Properties in the third quarter valued at approximately $565,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.22% of the stock is currently owned by insiders.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 323.97%.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.