Wedbush Decreases Earnings Estimates for Boston Properties

Boston Properties, Inc. (NYSE:BXP) – Research analysts at Wedbush decreased their FY2024 EPS estimates for shares of Boston Properties in a research note issued on Wednesday, November 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $7.10 for the year, down from their prior estimate of $7.13. Wedbush currently has a “Neutral” rating and a $70.00 target price on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share.

Several other brokerages have also weighed in on BXP. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Wells Fargo & Company upped their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Barclays lifted their price target on Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday. UBS Group increased their price objective on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.92.

Boston Properties Stock Down 0.2 %

Shares of Boston Properties stock opened at $78.41 on Monday. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 0.54 and a beta of 1.18. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The business’s 50 day simple moving average is $82.10 and its 200-day simple moving average is $71.27.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same quarter last year, the company earned $1.86 EPS. Boston Properties’s revenue was up 4.2% compared to the same quarter last year.

Institutional Investors Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently modified their holdings of BXP. Toronto Dominion Bank increased its stake in Boston Properties by 15.7% in the 3rd quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Boston Properties in the third quarter worth about $58,000. Harvest Fund Management Co. Ltd increased its position in shares of Boston Properties by 5,025.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Boston Properties by 9.8% during the third quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock valued at $690,000 after acquiring an additional 763 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Boston Properties by 12.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock valued at $6,024,000 after acquiring an additional 7,447 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 5.00%. Boston Properties’s dividend payout ratio (DPR) is 169.70%.

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.