Zacks: Analysts Expect Boston Properties, Inc. (BXP) to Announce $1.54 Earnings Per Share
Wall Street analysts expect Boston Properties, Inc. (NYSE:BXP) to post $1.54 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Boston Properties’ earnings, with the lowest EPS estimate coming in at $1.52 and the highest estimate coming in at $1.55. Boston Properties reported earnings per share of $0.50 during the same quarter last year, which suggests a positive year over year growth rate of 208%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Boston Properties will report full-year earnings of $6.24 per share for the current fiscal year, with EPS estimates ranging from $6.21 to $6.26. For the next financial year, analysts anticipate that the business will post earnings of $6.41 per share, with EPS estimates ranging from $6.21 to $6.54. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Boston Properties.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.05. The company had revenue of $656.90 million for the quarter, compared to analyst estimates of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS.
A number of brokerages recently weighed in on BXP. SunTrust Banks, Inc. reissued a “hold” rating and issued a $130.00 price target on shares of Boston Properties in a research note on Monday, October 9th. Evercore ISI reissued an “in-line” rating and issued a $133.00 price target (up previously from $127.00) on shares of Boston Properties in a research note on Friday, October 6th. KeyCorp reissued a “hold” rating on shares of Boston Properties in a research note on Wednesday, October 4th. Barclays PLC dropped their price target on Boston Properties from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Finally, Royal Bank Of Canada cut Boston Properties from a “top pick” rating to an “outperform” rating and dropped their price target for the stock from $150.00 to $140.00 in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $132.91.
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Several institutional investors have recently made changes to their positions in BXP. Teachers Advisors LLC lifted its holdings in shares of Boston Properties by 23.8% during the 1st quarter. Teachers Advisors LLC now owns 1,187,598 shares of the real estate investment trust’s stock valued at $157,250,000 after buying an additional 228,052 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Boston Properties by 2.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,146 shares of the real estate investment trust’s stock valued at $2,008,000 after buying an additional 400 shares during the last quarter. UBS Group AG lifted its holdings in shares of Boston Properties by 7.9% during the 1st quarter. UBS Group AG now owns 86,347 shares of the real estate investment trust’s stock valued at $11,433,000 after buying an additional 6,292 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Boston Properties by 9.4% during the 1st quarter. Lazard Asset Management LLC now owns 34,677 shares of the real estate investment trust’s stock valued at $4,591,000 after buying an additional 2,992 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Boston Properties by 2,333.7% during the 1st quarter. BlackRock Inc. now owns 14,650,487 shares of the real estate investment trust’s stock valued at $1,939,871,000 after buying an additional 14,048,513 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.
Boston Properties (BXP) traded down 0.57% on Wednesday, reaching $122.93. 687,673 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $123.41 and its 200 day moving average is $123.93. The stock has a market capitalization of $18.97 billion, a P/E ratio of 41.67 and a beta of 0.65. Boston Properties has a 1-year low of $113.69 and a 1-year high of $140.13.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 2.44%. Boston Properties’s dividend payout ratio (DPR) is presently 102.04%.
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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