Boston Properties, Inc. (NYSE:BXP) Releases Q3 Earnings Guidance

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 brokerages recently issued reports on BXP. Royal Bank Of Canada lowered Boston Properties from a top pick rating to an outperform rating and lowered their target price for the stock from $150.00 to $140.00 in a research report on Thursday. BidaskClub downgraded Boston Properties from a hold rating to a sell rating in a report on Monday, July 24th. Barclays PLC decreased their price target 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, TheStreet downgraded Boston Properties from a b- rating to a c rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $134.73.

Shares of Boston Properties, Inc. (BXP) traded down 1.02% during mid-day trading on Friday, hitting $119.83. The stock had a trading volume of 866,242 shares. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $143.65. The stock’s 50-day moving average is $121.09 and its 200 day moving average is $127.39. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 40.62 and a beta of 0.64.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $656.90 million during the quarter, compared to the consensus estimate of $645.96 million. During the same period in the prior year, the firm earned $1.44 earnings per share. Boston Properties’s revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s payout ratio is currently 102.04%.

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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.

Earnings History and Estimates for Boston Properties (NYSE:BXP)

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