Boston Properties, Inc. (NYSE:BXP) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.52-1.54 for the period, compared to the Thomson Reuters consensus estimate of $1.55. Boston Properties also updated its FY17 guidance to $6.20-6.25 EPS.
Several research analysts have recently issued reports on the company. TheStreet raised Boston Properties from a c rating to a b- rating in a research note on Tuesday, August 1st. BidaskClub downgraded Boston Properties from a hold rating to a sell rating in a report on Monday, July 24th. Barclays PLC reduced their target price on Boston Properties from $141.00 to $137.00 and set an overweight rating for the company in a report on Tuesday, July 18th. Zacks Investment Research downgraded Boston Properties from a hold rating to a sell rating in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a hold rating and issued a $121.00 price objective on shares of Boston Properties in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Boston Properties presently has a consensus rating of Hold and a consensus price target of $136.33.
Shares of Boston Properties, Inc. (NYSE:BXP) traded down 1.01% during mid-day trading on Friday, hitting $120.05. The company’s stock had a trading volume of 564,776 shares. The company has a 50-day moving average of $121.48 and a 200 day moving average of $127.72. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $143.90. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 40.69 and a beta of 0.64.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The business had revenue of $656.90 million during the quarter, compared to the consensus estimate of $645.96 million. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that Boston Properties, Inc. will post $2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s payout ratio is 102.04%.
About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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