Boston Properties, Inc. (BXP) Issues Q4 Earnings Guidance
Boston Properties, Inc. (NYSE:BXP) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.53-1.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.55. Boston Properties also updated its FY18 guidance to $6.20 – $6.36 EPS.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.03. Boston Properties had a return on equity of 9.58% and a net margin of 25.42%. The business had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. During the same period in the prior year, the business earned $1.42 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were given a $0.75 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.00 annualized dividend and a dividend yield of Infinity.
BXP has been the topic of several recent research reports. KeyCorp restated a hold rating on shares of Boston Properties in a research report on Friday, September 1st. Barclays PLC reduced their price objective on Boston Properties from $141.00 to $137.00 and set an overweight rating on the stock in a research report on Tuesday, July 18th. Evercore ISI restated an in-line rating and issued a $133.00 price objective (up from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. SunTrust Banks, Inc. restated a hold rating and issued a $130.00 price objective on shares of Boston Properties in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded Boston Properties from a hold rating to a sell rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $134.50.
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About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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