Boston Properties (NYSE:BXP) Releases Quarterly Earnings Results, Misses Estimates By $1.22 EPS

Boston Properties (NYSE:BXP) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.22), Yahoo Finance reports. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. During the same period in the previous year, the firm posted $1.73 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year.

Boston Properties Trading Up 1.2 %

BXP stock traded up $0.71 during midday trading on Friday, hitting $60.78. The stock had a trading volume of 891,709 shares, compared to its average volume of 1,251,863. The firm has a market cap of $9.55 billion, a P/E ratio of 49.82 and a beta of 1.15. The business has a fifty day moving average price of $62.71 and a two-hundred day moving average price of $63.02. The company has a current ratio of 4.77, a quick ratio of 5.40 and a debt-to-equity ratio of 1.91. Boston Properties has a 1-year low of $46.80 and a 1-year high of $73.97.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s dividend payout ratio is presently 321.31%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BXP shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target for the company. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Friday. Barclays decreased their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, March 27th. Truist Financial lowered their price objective on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, March 5th. Finally, Wedbush cut their target price on Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Boston Properties presently has a consensus rating of “Hold” and a consensus target price of $69.47.

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.