FY2024 EPS Estimate for Boston Properties Cut by Analyst

Boston Properties, Inc. (NYSE:BXP) – Stock analysts at Wedbush reduced their FY2024 EPS estimates for shares of Boston Properties in a research report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $7.10 per share for the year, down from their previous estimate of $7.13. Wedbush currently has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The company had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. Boston Properties’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS.

A number of other brokerages have also recently weighed in on BXP. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $88.00 in a research report on Thursday. Evercore ISI increased their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. Truist Financial increased their target price on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank restated a “sector perform” rating and set a $85.00 target price on shares of Boston Properties in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.85.

Boston Properties Stock Down 1.2 %

Shares of NYSE BXP opened at $78.53 on Monday. Boston Properties has a 52-week low of $52.61 and a 52-week high of $90.11. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market cap of $12.42 billion, a P/E ratio of 34.00, a P/E/G ratio of 0.54 and a beta of 1.18. The firm has a 50 day moving average price of $82.02 and a 200 day moving average price of $71.14.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.99%. Boston Properties’s dividend payout ratio is 169.70%.

Insider Activity

In other 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 transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

A number of institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares during the last quarter. UMB Bank n.a. boosted its position in Boston Properties by 115.5% during the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 380 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Boston Properties by 5,025.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Boston Properties in the third quarter valued at about $58,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 395 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.