Boston Properties (NYSE:BXP) Releases Q2 2024 Earnings Guidance

Boston Properties (NYSE:BXP) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.700-1.720 for the period, compared to the consensus estimate of 1.780. The company issued revenue guidance of -. Boston Properties also updated its FY 2024 guidance to 6.980-7.100 EPS.

Analysts Set New Price Targets

Several research firms have commented on BXP. BMO Capital Markets lowered their target price on shares of Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Boston Properties in a report on Tuesday, January 30th. They set a hold rating and a $74.00 target price on the stock. Jefferies Financial Group upgraded Boston Properties from a hold rating to a buy rating and lifted their price target for the company from $57.00 to $80.00 in a research report on Tuesday, January 2nd. Barclays cut their price objective on Boston Properties from $67.00 to $66.00 and set an equal weight rating for the company in a report on Wednesday, March 27th. Finally, StockNews.com raised Boston Properties from a sell rating to a hold rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $69.44.

Boston Properties Trading Down 1.5 %

NYSE BXP traded down $0.95 on Tuesday, hitting $61.89. 1,180,268 shares of the stock were exchanged, compared to its average volume of 1,421,962. The company’s 50-day moving average price is $62.94 and its two-hundred day moving average price is $63.06. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 51.15 and a beta of 1.15.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). The business had revenue of $828.90 million for the quarter, compared to analysts’ expectations of $811.59 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Research analysts predict that Boston Properties will post 7.12 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.98 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.33%. Boston Properties’s dividend payout ratio is 323.97%.

Insider Buying and Selling

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.35% of the stock is currently owned by corporate insiders.

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.