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

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.090-7.110 for the period, compared to the consensus estimate of 7.110. The company issued revenue guidance of -. Boston Properties also updated its FY24 guidance to $7.09-7.11 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. 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. Wedbush lifted their target price on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Barclays lifted their target price on Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.82.

Boston Properties Stock Down 4.0 %

Shares of NYSE:BXP traded down $3.46 during trading on Wednesday, hitting $82.73. The company’s stock had a trading volume of 2,179,283 shares, compared to its average volume of 1,267,058. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11. The stock’s 50-day moving average price is $80.47 and its two-hundred day moving average price is $69.40. The company has a market capitalization of $12.99 billion, a PE ratio of 67.81, a PEG ratio of 0.56 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same quarter last year, the firm posted $1.86 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is 321.31%.

Insider Activity at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 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.