Boston Properties (NYSE:BXP) Issues Earnings Results

Boston Properties (NYSE:BXP) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.22), Yahoo Finance reports. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. During the same period in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year.

Boston Properties Price Performance

NYSE:BXP traded up $0.71 on Friday, hitting $60.78. The company had a trading volume of 891,709 shares, compared to its average volume of 1,251,863. The company has a current ratio of 4.77, a quick ratio of 5.40 and a debt-to-equity ratio of 1.91. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The firm has a 50 day moving average of $62.71 and a two-hundred day moving average of $63.02. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 49.82 and a beta of 1.15.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.45%. The ex-dividend date was Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 321.31%.

Analyst Upgrades and Downgrades

BXP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price objective for the company. Wedbush dropped their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research note on Friday. Barclays reduced their price objective on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 27th. Finally, Truist Financial dropped their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.47.

Insider Activity at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction 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 Securities & Exchange Commission, which is available at this link. 1.35% of the stock is currently owned by company insiders.

Boston Properties Company Profile

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.