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

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.090-7.110 for the period, compared to the consensus EPS 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 Analyst Weigh In

BXP has been the subject of a number of research reports. Compass Point increased their price target on Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI raised their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Wedbush lifted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Barclays lifted their target price on shares of Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Scotiabank lifted their price objective on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus price target of $80.75.

Boston Properties Stock Down 1.8 %

Shares of NYSE:BXP traded down $1.49 during trading on Friday, hitting $79.07. 571,499 shares of the company’s stock traded hands, compared to its average volume of 1,266,718. The company has a 50-day moving average price of $80.67 and a 200-day moving average price of $69.48. Boston Properties has a 52 week low of $50.64 and a 52 week high of $90.11. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued 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 return on equity of 4.40% and a net margin of 10.75%. Boston Properties’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts forecast that Boston Properties will post 7.1 EPS for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s payout ratio is currently 169.70%.

Insiders Place Their Bets

In other news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available at this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated 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. Company insiders own 1.35% of the company’s stock.

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.