Brokerages expect Boston Properties, Inc. (NYSE:BXP) to report $647.02 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Boston Properties’ earnings. The lowest sales estimate is $635.39 million and the highest is $662.92 million. Boston Properties reported sales of $632.23 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The business is expected to announce its next earnings report on Tuesday, April 24th.
On average, analysts expect that Boston Properties will report full year sales of $647.02 million for the current fiscal year, with estimates ranging from $2.49 billion to $2.80 billion. For the next year, analysts expect that the firm will report sales of $2.85 billion per share, with estimates ranging from $2.64 billion to $3.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Boston Properties.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.02. Boston Properties had a return on equity of 5.86% and a net margin of 17.67%. The firm had revenue of $655.23 million for the quarter, compared to analyst estimates of $654.36 million. During the same quarter in the previous year, the firm earned $0.94 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis.
Several research analysts have recently commented on BXP shares. Jefferies Group reiterated a “hold” rating and set a $124.00 target price on shares of Boston Properties in a research note on Tuesday, October 24th. Mizuho reiterated a “hold” rating and set a $122.00 target price on shares of Boston Properties in a research note on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a research note on Friday, November 3rd. Argus reduced their target price on Boston Properties to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Finally, Royal Bank of Canada set a $140.00 target price on Boston Properties and gave the stock a “buy” rating in a research note on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Boston Properties presently has an average rating of “Hold” and a consensus target price of $132.09.
Boston Properties (BXP) opened at $119.39 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.43. Boston Properties has a one year low of $111.57 and a one year high of $140.13. The company has a market capitalization of $18,463.48, a P/E ratio of 40.75, a PEG ratio of 3.26 and a beta of 0.58.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is an increase from Boston Properties’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.68%. Boston Properties’s payout ratio is 109.22%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in Boston Properties by 0.8% in the 3rd quarter. Swiss National Bank now owns 667,935 shares of the real estate investment trust’s stock valued at $82,076,000 after purchasing an additional 5,300 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Boston Properties by 6.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,676 shares of the real estate investment trust’s stock valued at $3,401,000 after acquiring an additional 1,676 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Boston Properties by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,550 shares of the real estate investment trust’s stock valued at $1,542,000 after acquiring an additional 1,119 shares during the period. APG Asset Management US Inc. lifted its position in shares of Boston Properties by 1.1% during the 3rd quarter. APG Asset Management US Inc. now owns 6,541,092 shares of the real estate investment trust’s stock valued at $803,769,000 after acquiring an additional 69,000 shares during the period. Finally, Barings LLC lifted its position in shares of Boston Properties by 3.1% during the 3rd quarter. Barings LLC now owns 497,506 shares of the real estate investment trust’s stock valued at $61,134,000 after acquiring an additional 15,149 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.
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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