FY2024 EPS Estimate for Boston Properties Lowered by Analyst

Boston Properties, Inc. (NYSE:BXP) – Wedbush cut their FY2024 earnings per share (EPS) estimates for shares of Boston Properties in a report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $7.10 per share for the year, down from their prior estimate of $7.13. Wedbush currently has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share.

A number of other analysts also recently weighed in on the company. UBS Group increased their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Scotiabank reissued a “sector perform” rating and issued a $85.00 price target on shares of Boston Properties in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Barclays increased their target price on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Truist Financial lifted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Properties presently has a consensus rating of “Hold” and a consensus price target of $80.92.

Boston Properties Price Performance

Shares of NYSE BXP opened at $79.42 on Monday. The company has a market capitalization of $12.56 billion, a PE ratio of 34.38, a P/E/G ratio of 0.54 and a beta of 1.18. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The firm has a fifty day simple moving average of $82.20 and a 200 day simple moving average of $71.41.

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

Hedge Funds Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. lifted its stake in Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 386 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Boston Properties by 5,025.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the period. UMB Bank n.a. lifted its position in shares of Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Boston Properties during the 3rd quarter valued at $58,000. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 395 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 transaction of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.94%. Boston Properties’s payout ratio is 169.70%.

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.