Wedbush Cuts Earnings Estimates for Boston Properties

Boston Properties, Inc. (NYSE:BXP) – Stock analysts at Wedbush lowered their FY2024 earnings per share (EPS) estimates for Boston Properties in a report released on Wednesday, November 13th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $7.10 per share for the year, down from their previous estimate of $7.13. Wedbush has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for Boston Properties’ current full-year earnings is $7.10 per share.

BXP has been the topic of several other research reports. Wells Fargo & Company raised their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. UBS Group raised their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.92.

Boston Properties Trading Up 1.3 %

BXP opened at $79.42 on Monday. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The firm has a market cap of $12.56 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. The firm’s fifty day moving average is $82.20 and its two-hundred day moving average is $71.41.

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

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 paid 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 4.94%. Boston Properties’s dividend payout ratio is presently 169.70%.

Insider Activity

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXP. Intech Investment Management LLC bought a new position in shares of Boston Properties in the first quarter worth about $445,000. Vanguard Group Inc. lifted its stake in shares of Boston Properties by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after acquiring an additional 122,583 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Boston Properties during the 1st quarter valued at $1,187,000. O Shaughnessy Asset Management LLC increased its holdings in Boston Properties by 44.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,704 shares of the real estate investment trust’s stock worth $699,000 after purchasing an additional 3,275 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Boston Properties by 29.2% in the first quarter. UniSuper Management Pty Ltd now owns 60,891 shares of the real estate investment trust’s stock valued at $3,977,000 after purchasing an additional 13,754 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.