Q2 2024 EPS Estimates for Boston Properties, Inc. (NYSE:BXP) Decreased by Zacks Research

Boston Properties, Inc. (NYSE:BXP) – Equities researchers at Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of Boston Properties in a note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $1.72 per share for the quarter, down from their previous estimate 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.

Other analysts have also recently issued reports about the company. Truist Financial cut their price target on Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. Barclays cut their target price on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. BMO Capital Markets decreased their price objective on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Wedbush dropped their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research note 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.53.

Boston Properties Stock Down 3.2 %

BXP stock opened at $59.76 on Wednesday. Boston Properties has a fifty-two week low of $46.80 and a fifty-two week high of $73.97. The company’s 50 day moving average price is $62.04 and its 200 day moving average price is $63.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 0.43 and a beta of 1.15.

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

Boston Properties Announces Dividend

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

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Several large investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of Boston Properties during the 1st quarter worth $16,729,000. Plato Investment Management Ltd acquired a new stake in Boston Properties in the 1st quarter valued at $278,000. Tidal Investments LLC purchased a new stake in shares of Boston Properties during the 1st quarter valued at about $290,000. California State Teachers Retirement System raised its stake in shares of Boston Properties by 1.8% during the first quarter. California State Teachers Retirement System now owns 253,746 shares of the real estate investment trust’s stock valued at $16,572,000 after purchasing an additional 4,461 shares during the period. Finally, EJF Capital LLC purchased a new stake in Boston Properties during the 1st quarter worth $229,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

About Boston Properties

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.