Analysts forecast that Boston Properties, Inc. (NYSE:BXP) will post $627.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Boston Properties’ earnings, with the highest sales estimate coming in at $641.96 million and the lowest estimate coming in at $617.62 million. Boston Properties posted sales of $657.71 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Boston Properties will report full-year sales of $2.50 billion for the current financial year, with estimates ranging from $2.46 billion to $2.57 billion. For the next year, analysts expect that the firm will post sales of $2.61 billion, with estimates ranging from $2.51 billion to $2.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Boston Properties.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.56 by ($0.73). The business had revenue of $664.48 million for the quarter, compared to the consensus estimate of $667.92 million. Boston Properties had a net margin of 20.23% and a return on equity of 6.71%. Boston Properties’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share.
A number of equities research analysts have commented on BXP shares. ValuEngine cut Boston Properties from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Deutsche Bank raised their price target on Boston Properties from $133.00 to $134.00 and gave the company a “hold” rating in a report on Tuesday, June 26th. Jefferies Financial Group reissued a “hold” rating and set a $118.00 price target on shares of Boston Properties in a report on Wednesday, August 1st. Stifel Nicolaus raised their price target on Boston Properties from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Finally, TheStreet raised Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $132.77.
Several hedge funds have recently modified their holdings of BXP. Summit Trail Advisors LLC increased its holdings in shares of Boston Properties by 11,571.4% in the first quarter. Summit Trail Advisors LLC now owns 189,661 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 188,036 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Boston Properties in the second quarter worth about $227,000. Fieldpoint Private Securities LLC increased its holdings in shares of Boston Properties by 53.6% in the second quarter. Fieldpoint Private Securities LLC now owns 2,006 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 700 shares during the last quarter. Federated Investors Inc. PA increased its holdings in shares of Boston Properties by 91.9% in the second quarter. Federated Investors Inc. PA now owns 2,007 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 961 shares during the last quarter. Finally, Gideon Capital Advisors Inc. bought a new stake in shares of Boston Properties in the first quarter worth about $274,000. 95.35% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BXP traded down $0.30 on Tuesday, reaching $118.86. 634,938 shares of the company’s stock traded hands, compared to its average volume of 753,958. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.34. The stock has a market cap of $19.01 billion, a PE ratio of 20.08, a P/E/G ratio of 3.23 and a beta of 0.56. Boston Properties has a 12 month low of $111.57 and a 12 month high of $132.82.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a $0.80 dividend. The ex-dividend date is Thursday, September 27th. This represents a $3.20 annualized dividend and a dividend yield of 2.69%.
About Boston Properties
Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.
Further Reading: Stock Symbols and CUSIP Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Boston Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties and related companies with MarketBeat.com's FREE daily email newsletter.