Boston Properties (NYSE:BXP) Issues Q3 Earnings Guidance

Boston Properties (NYSE:BXP) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.80 to $1.82 for the period, compared to the consensus EPS estimate of $1.78. Boston Properties also updated its FY 2024 guidance to 7.090-7.150 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on BXP. Morgan Stanley reissued an equal weight rating and issued a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Evercore ISI dropped their target price on Boston Properties from $73.00 to $69.00 and set an outperform rating for the company in a report on Monday, May 6th. Wedbush dropped their target price on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a report on Thursday, May 2nd. StockNews.com cut Boston Properties from a hold rating to a sell rating in a report on Wednesday. Finally, Barclays dropped their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $69.60.

Boston Properties Trading Down 5.1 %

BXP traded down $3.60 during mid-day trading on Friday, hitting $66.69. 801,446 shares of the stock were exchanged, compared to its average volume of 1,335,189. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91. The company has a market cap of $10.47 billion, a PE ratio of 55.70, a PEG ratio of 0.46 and a beta of 1.18. The firm’s fifty day moving average is $63.20 and its two-hundred day moving average is $63.66. Boston Properties has a 1-year low of $50.64 and a 1-year high of $73.97.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The company had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. Boston Properties’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. Equities analysts forecast that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, June 28th. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

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.