Boston Properties (NYSE:BXP) Issues Quarterly Earnings Results, Misses Estimates By $1.28 EPS

Boston Properties (NYSE:BXP) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28), Yahoo Finance reports. The firm had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.86 earnings per share. Boston Properties updated its FY24 guidance to $7.09-7.11 EPS and its FY 2024 guidance to 7.090-7.110 EPS.

Boston Properties Trading Down 2.6 %

BXP opened at $80.56 on Friday. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 0.57 and a beta of 1.18. Boston Properties has a 12 month low of $50.64 and a 12 month high of $90.11. The stock has a fifty day moving average price of $80.67 and a 200-day moving average price of $69.48.

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.98 per share. The ex-dividend date was Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.87%. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Wall Street Analysts Forecast Growth

BXP has been the topic of several recent analyst reports. Compass Point increased their price target on Boston Properties from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush increased their target price on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Truist Financial boosted their target price on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Barclays raised their price target on shares of Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Evercore ISI boosted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.75.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

About Boston Properties

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.