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

Boston Properties, Inc. (NYSE:BXP) – Analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for Boston Properties in a research report issued on Thursday, May 2nd. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $1.72 per share for the quarter, down from their previous estimate of $1.73. Wedbush has a “Neutral” rating and a $63.00 price target on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.08 per share. Wedbush also issued estimates for Boston Properties’ Q3 2024 earnings at $1.78 EPS, Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $7.04 EPS, Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.77 EPS, Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.95 EPS and FY2025 earnings at $7.38 EPS.

Several other equities research analysts also recently issued reports on BXP. BMO Capital Markets dropped their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Truist Financial reduced their price objective on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Friday. Barclays reduced their target price on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target for the company. 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, Boston Properties presently has a consensus rating of “Hold” and a consensus price target of $69.47.

Boston Properties Stock Up 1.2 %

Shares of Boston Properties stock opened at $60.78 on Friday. The company has a fifty day moving average price of $62.71 and a 200 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 twelve month low of $46.80 and a twelve month high of $73.97. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 49.82 and a beta of 1.15.

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

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.45%. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Boston Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Boston Properties during the 4th quarter valued at $15,810,000. Dark Forest Capital Management LP acquired a new position in Boston Properties in the 3rd quarter worth about $904,000. abrdn plc raised its stake in shares of Boston Properties by 4.2% during the 4th quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock worth $50,090,000 after purchasing an additional 28,870 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Boston Properties during the 4th quarter worth about $5,017,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Boston Properties by 12.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after buying an additional 23,795 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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.