Boston Properties, Inc. (NYSE:BXP) Forecasted to Post Q2 2024 Earnings of $1.72 Per Share

Boston Properties, Inc. (NYSE:BXP) – Investment analysts at Zacks Research lowered their Q2 2024 EPS estimates for Boston Properties in a research note issued on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the real estate investment trust will earn $1.72 per share for the quarter, down from their previous forecast of $1.76. The consensus estimate for Boston Properties’ current full-year earnings is $7.05 per share. Zacks Research also issued estimates for Boston Properties’ FY2024 earnings at $7.05 EPS, Q1 2025 earnings at $1.74 EPS, Q3 2025 earnings at $1.85 EPS, Q4 2025 earnings at $1.83 EPS, FY2025 earnings at $7.23 EPS, Q1 2026 earnings at $1.83 EPS and FY2026 earnings at $7.59 EPS.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share.

A number of other brokerages have also recently issued reports on BXP. Truist Financial dropped their target price 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. BMO Capital Markets dropped their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 target price on the stock. Wedbush cut their price objective on Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.53.

Boston Properties Stock Performance

Boston Properties stock opened at $59.76 on Wednesday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 48.98, a P/E/G ratio of 0.43 and a beta of 1.15. The stock has a fifty day moving average price of $62.04 and a two-hundred day moving average price of $63.78. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77.

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s payout ratio is 321.31%.

Insider Buying and Selling

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Properties

Several large investors have recently modified their holdings of BXP. McGlone Suttner Wealth Management Inc. bought a new stake in Boston Properties in the 4th quarter valued at approximately $29,000. Manchester Capital Management LLC raised its position in shares of Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 340 shares during the period. Sound Income Strategies LLC raised its holdings in Boston Properties by 770.9% in the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 424 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Boston Properties during the 4th quarter worth approximately $34,000. Finally, Cambridge Trust Co. lifted its holdings in shares of Boston Properties by 80.1% during the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 250 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.