Boston Properties (NYSE:BXP) Announces Quarterly Earnings Results, Misses Expectations By $1.22 EPS

Boston Properties (NYSE:BXP) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22), Yahoo Finance reports. The firm had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share.

Boston Properties Price Performance

Shares of NYSE BXP traded down $2.96 during trading on Wednesday, hitting $58.93. The company had a trading volume of 276,537 shares, compared to its average volume of 1,407,904. The company has a market cap of $9.25 billion, a P/E ratio of 51.15 and a beta of 1.15. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The business’s 50-day moving average is $62.94 and its 200 day moving average is $63.06. The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.98 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.65%. Boston Properties’s dividend payout ratio is currently 323.97%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BXP. Truist Financial lowered their price objective on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. BMO Capital Markets lowered their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 target price for the company. Barclays lowered their target price on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, March 27th. Finally, StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.35% of the stock is owned by corporate insiders.

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.