Boston Properties, Inc. (NYSE:BXP) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.20 – $6.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.39. Boston Properties also updated its Q4 guidance to $1.53-1.54 EPS.
Boston Properties (NYSE:BXP) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.88. The business had revenue of $657.70 million during the quarter, compared to analyst estimates of $649.84 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. Boston Properties’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, September 28th. Boston Properties’s payout ratio is 102.04%.
BXP has been the topic of several recent analyst reports. BidaskClub upgraded shares of Boston Properties from a sell rating to a hold rating in a report on Sunday, July 16th. Jefferies Group LLC restated a hold rating and set a $124.00 target price on shares of Boston Properties in a report on Tuesday, October 24th. KeyCorp reiterated a hold rating on shares of Boston Properties in a research note on Friday, September 1st. TheStreet upgraded shares of Boston Properties from a c rating to a b- rating in a research note on Tuesday, August 1st. Finally, SunTrust Banks, Inc. reiterated a hold rating and issued a $130.00 price target on shares of Boston Properties in a research note on Monday, October 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $134.50.
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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