Wedbush Predicts Boston Properties’ Q4 Earnings (NYSE:BXP)

Boston Properties, Inc. (NYSE:BXP) – Equities researchers at Wedbush cut their Q4 2024 earnings per share (EPS) estimates for Boston Properties in a research note issued to investors on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $1.79 per share for the quarter, down from their previous forecast of $1.81. Wedbush has a “Neutral” rating and a $70.00 price target on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share. Wedbush also issued estimates for Boston Properties’ FY2025 earnings at $7.15 EPS.

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

A number of other research firms have also weighed in on BXP. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and raised their price objective for the company from $80.00 to $88.00 in a research note on Thursday. Barclays upped their target price on Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Evercore ISI boosted their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. UBS Group boosted their price target on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.85.

Boston Properties Trading Down 1.2 %

BXP opened at $78.53 on Friday. 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 company has a fifty day moving average price of $82.02 and a two-hundred day moving average price of $71.00. The company has a market cap of $12.42 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. Boston Properties has a 1-year low of $52.61 and a 1-year high of $90.11.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.99%. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred 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. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Properties

A number of large investors have recently added to or reduced their stakes in BXP. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 386 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Boston Properties by 5,025.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Boston Properties by 115.5% during the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the period. Brooklyn Investment Group bought a new stake in Boston Properties in the third quarter valued at $58,000. Finally, Abich Financial Wealth Management LLC increased its position in Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 395 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.