Boston Properties (NYSE:BXP) Posts Quarterly Earnings Results, Misses Expectations By $1.21 EPS

Boston Properties (NYSE:BXP) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21), Yahoo Finance reports. The firm had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS.

Boston Properties Price Performance

NYSE:BXP traded down $0.72 during trading hours on Thursday, reaching $70.59. 612,075 shares of the company were exchanged, compared to its average volume of 1,332,928. The business has a 50 day moving average of $62.99 and a 200 day moving average of $63.61. The company has a market capitalization of $11.09 billion, a P/E ratio of 58.45, a P/E/G ratio of 0.48 and a beta of 1.18. Boston Properties has a 1-year low of $50.64 and a 1-year high of $73.97. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.98 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.55%. Boston Properties’s payout ratio is 321.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BXP shares. BMO Capital Markets reduced their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Evercore ISI cut their price objective on Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price target on shares of Boston Properties in a report on Thursday, June 20th. Truist Financial reduced their price objective on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, June 14th. Finally, Barclays lowered their target price on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Boston Properties currently has an average rating of “Hold” and an average price target of $69.60.

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.