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

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on BXP. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday. Evercore ISI raised their price target on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Truist Financial raised their target price on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Compass Point increased their price objective on shares of Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.75.

Boston Properties Stock Performance

BXP traded down $1.49 on Friday, reaching $79.07. 571,499 shares of the stock were exchanged, compared to its average volume of 1,266,718. The company’s 50-day moving average price is $80.67 and its 200 day moving average price is $69.48. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 4.83. The firm has a market capitalization of $12.42 billion, a PE ratio of 35.05, a PEG ratio of 0.57 and a beta of 1.18. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.28). The business had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business’s 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, sell-side analysts forecast that Boston Properties will post 7.1 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.96%. Boston Properties’s dividend payout ratio (DPR) is 169.70%.

Insiders Place Their Bets

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

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.