Equities analysts expect Boston Properties, Inc. (NYSE:BXP) to post sales of $661.53 million for the current quarter, according to Zacks. Five analysts have issued estimates for Boston Properties’ earnings, with the lowest sales estimate coming in at $647.12 million and the highest estimate coming in at $699.16 million. Boston Properties reported sales of $614.63 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The company is expected to issue its next quarterly earnings results on Tuesday, April 23rd.
According to Zacks, analysts expect that Boston Properties will report full-year sales of $2.69 billion for the current year, with estimates ranging from $2.62 billion to $2.87 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.83 billion, with estimates ranging from $2.66 billion to $3.03 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Boston Properties.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($0.72). Boston Properties had a net margin of 21.45% and a return on equity of 7.28%. The company had revenue of $651.17 million during the quarter, compared to analyst estimates of $634.12 million.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of Boston Properties from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $130.00 to $116.00 in a research report on Wednesday. Zacks Investment Research raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research report on Tuesday, February 12th. ValuEngine raised shares of Boston Properties from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BTIG Research boosted their price target on shares of Boston Properties to $145.00 and gave the company a “buy” rating in a research report on Thursday, January 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $135.00 price target on shares of Boston Properties in a research report on Tuesday, January 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Boston Properties currently has an average rating of “Hold” and an average price target of $135.50.
In related news, SVP Frank D. Burt sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $133.64, for a total transaction of $267,280.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of BXP. Norges Bank acquired a new position in Boston Properties during the fourth quarter worth approximately $1,196,899,000. Brookfield Asset Management Inc. acquired a new position in Boston Properties during the third quarter worth approximately $222,006,000. Resolution Capital Ltd increased its position in Boston Properties by 18.6% during the fourth quarter. Resolution Capital Ltd now owns 6,007,941 shares of the real estate investment trust’s stock worth $77,322,000 after purchasing an additional 943,094 shares during the last quarter. Deutsche Bank AG increased its position in Boston Properties by 86.4% during the third quarter. Deutsche Bank AG now owns 1,798,412 shares of the real estate investment trust’s stock worth $221,360,000 after purchasing an additional 833,693 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Boston Properties by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock worth $526,197,000 after purchasing an additional 326,351 shares during the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.
BXP stock traded down $2.53 during midday trading on Friday, hitting $132.74. The company’s stock had a trading volume of 1,458,475 shares, compared to its average volume of 711,035. The stock has a market capitalization of $20.90 billion, a PE ratio of 21.07, a P/E/G ratio of 3.12 and a beta of 0.93. Boston Properties has a 52-week low of $107.84 and a 52-week high of $136.22. The company has a quick ratio of 4.81, a current ratio of 4.81 and a debt-to-equity ratio of 1.37.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
See Also: 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.