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 guidance of 6.980-7.100 for the period, compared to the consensus earnings per share estimate of 7.130. The company issued revenue guidance of -. Boston Properties also updated its Q2 2024 guidance to 1.700-1.720 EPS.

Boston Properties Trading Down 1.5 %

BXP stock traded down $0.95 during midday trading on Tuesday, hitting $61.89. 1,180,268 shares of the company’s stock were exchanged, compared to its average volume of 1,421,962. The business has a 50-day simple moving average of $63.03 and a two-hundred day simple moving average of $63.02. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $9.72 billion, a PE ratio of 51.95 and a beta of 1.15. Boston Properties has a 1-year low of $46.80 and a 1-year high of $73.97.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The company had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a yield of 6.33%. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BXP shares. Barclays cut their target price on Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a research report on Wednesday, March 27th. BMO Capital Markets decreased their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a report on Monday, April 8th. Truist Financial decreased their price target on Boston Properties from $77.00 to $75.00 and set a hold rating on the stock in a research note on Tuesday, March 5th. Jefferies Financial Group raised shares of Boston Properties from a hold rating to a buy rating and boosted their price objective for the stock from $57.00 to $80.00 in a report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a report on Tuesday, January 30th. They issued a hold rating and a $74.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Boston Properties has a consensus rating of Hold and a consensus price target of $69.44.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.35% of the company’s stock.

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.