Wedbush Decreases Earnings Estimates for Boston Properties

Boston Properties, Inc. (NYSE:BXP) – Equities researchers at Wedbush cut their Q4 2024 earnings per share (EPS) estimates for shares of Boston Properties in a report released on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $1.79 per share for the quarter, down from their previous forecast of $1.81. Wedbush currently has a “Neutral” rating and a $70.00 price target on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share. Wedbush also issued estimates for Boston Properties’ FY2025 earnings at $7.15 EPS.

A number of other analysts have also issued reports on BXP. Truist Financial raised their target price on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Evercore ISI raised their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $88.00 in a report on Thursday. UBS Group upped their price target on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.85.

Boston Properties Stock Performance

Shares of NYSE BXP opened at $78.53 on Friday. The company has a 50-day simple moving average of $81.94 and a 200-day simple moving average of $70.89. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. The company has a market cap of $12.42 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. Boston Properties has a 12 month low of $52.61 and a 12 month high of $90.11.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The company had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same period in the previous year, the business earned $1.86 EPS. The firm’s revenue was up 4.2% on a year-over-year basis.

Hedge Funds Weigh In On Boston Properties

Several hedge funds and other institutional investors have recently modified their holdings of BXP. Acadian Asset Management LLC bought a new position in shares of Boston Properties in the first quarter valued at approximately $1,187,000. SG Americas Securities LLC grew its position in Boston Properties by 76.8% in the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock worth $6,786,000 after acquiring an additional 47,882 shares in the last quarter. M&G Plc acquired a new stake in Boston Properties in the 1st quarter worth approximately $3,807,000. Caxton Associates LP bought a new position in shares of Boston Properties in the first quarter worth about $1,423,000. Finally, DNB Asset Management AS boosted its position in shares of Boston Properties by 47.3% in the second quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock valued at $2,140,000 after acquiring an additional 11,163 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.99%. The ex-dividend date was Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

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.