Q2 2024 Earnings Forecast for Boston Properties, Inc. (NYSE:BXP) Issued By Wedbush

Boston Properties, Inc. (NYSE:BXP) – Stock analysts at Wedbush reduced their Q2 2024 earnings per share estimates for Boston Properties in a report issued on Thursday, May 2nd. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $1.72 per share for the quarter, down from their prior estimate of $1.73. Wedbush has a “Neutral” rating and a $63.00 price objective on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.07 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.

BXP has been the subject of a number of other research reports. BMO Capital Markets dropped their price target on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Truist Financial cut their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Barclays lowered their target price on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target on the stock. Finally, StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.47.

Boston Properties Price Performance

Shares of Boston Properties stock opened at $60.78 on Friday. The company has a 50-day simple moving average of $62.62 and a two-hundred day simple moving average of $63.04. Boston Properties has a twelve month low of $46.80 and a twelve month high of $73.97. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 49.82 and a beta of 1.15. The company has a quick ratio of 5.40, a current ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last announced its 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 return on equity of 2.35% and a net margin of 5.81%. The company had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. During the same period in the previous year, the firm posted $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 declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.98 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.45%. Boston Properties’s payout ratio is 321.31%.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Properties

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Boston Properties by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 23,446,379 shares of the real estate investment trust’s stock worth $1,645,232,000 after acquiring an additional 62,539 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Properties in the fourth quarter valued at about $890,848,000. Allspring Global Investments Holdings LLC increased its stake in shares of Boston Properties by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after acquiring an additional 166,105 shares during the period. Senvest Management LLC raised its position in Boston Properties by 6.3% during the third quarter. Senvest Management LLC now owns 3,035,887 shares of the real estate investment trust’s stock valued at $180,575,000 after acquiring an additional 179,547 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Boston Properties by 9.6% during the 3rd quarter. Northern Trust Corp now owns 2,780,809 shares of the real estate investment trust’s stock valued at $165,403,000 after purchasing an additional 243,246 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.