Boston Properties (NYSE:BXP) Releases FY24 Earnings Guidance

Boston Properties (NYSE:BXPGet Free Report) updated its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $7.09-7.11 for the period, compared to the consensus EPS estimate of $7.11.

Boston Properties Trading Down 1.4 %

Shares of BXP traded down $1.20 during midday trading on Tuesday, hitting $86.19. The stock had a trading volume of 1,307,749 shares, compared to its average volume of 1,262,676. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11. The business has a 50-day simple moving average of $79.91 and a two-hundred day simple moving average of $69.13. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm has a market cap of $13.54 billion, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18.

Boston Properties (NYSE:BXPGet Free Report) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period last year, the firm earned $1.86 earnings per share. Boston Properties’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s payout ratio is presently 321.31%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BXP shares. Evercore ISI increased their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price target on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Scotiabank boosted their target price on shares of Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, Barclays raised their price target on shares of Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Boston Properties presently has an average rating of “Moderate Buy” and a consensus price target of $80.82.

Check Out Our Latest Stock Report on BXP

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

About Boston Properties

(Get Free Report)

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.

See Also

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

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