Brokers Issue Forecasts for Boston Properties, Inc.'s Q2 2024 Earnings (NYSE:BXP)

Boston Properties, Inc. (NYSE:BXP - Free Report) - Stock analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Boston Properties in a report released on Wednesday, April 10th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $1.76 per share for the quarter, down from their prior forecast of $1.77. The consensus estimate for Boston Properties' current full-year earnings is $7.12 per share. Zacks Research also issued estimates for Boston Properties' Q3 2024 earnings at $1.79 EPS, FY2024 earnings at $7.08 EPS and FY2026 earnings at $7.60 EPS.

Several other equities analysts also recently weighed in on the company. Piper Sandler increased their target price on Boston Properties from $60.00 to $77.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a "hold" rating and a $74.00 target price on the stock. StockNews.com raised shares of Boston Properties from a "sell" rating to a "hold" rating in a research note on Thursday, February 1st. Barclays lowered their price objective on shares of 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. Finally, Truist Financial cut their target price on Boston Properties from $77.00 to $75.00 and set a "hold" rating on the stock in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.44.

Boston Properties Trading Down 2.3 %

Shares of Boston Properties stock traded down $1.42 during trading hours on Friday, reaching $60.61. 1,122,307 shares of the company's stock were exchanged, compared to its average volume of 1,456,379. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a fifty day moving average of $63.98 and a 200-day moving average of $62.59. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 50.24 and a beta of 1.15.

Boston Properties (NYSE:BXP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $1.81 by ($1.05). The firm had revenue of $828.90 million for the quarter, compared to analysts' expectations of $811.59 million. Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties's dividend payout ratio is presently 323.97%.

Insider Buying and Selling at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.22% of the stock is owned by corporate insiders.

Institutional Trading of Boston Properties

Several institutional investors have recently added to or reduced their stakes in BXP. Norges Bank acquired a new position in shares of Boston Properties in the 4th quarter worth approximately $890,848,000. Moneta Group Investment Advisors LLC boosted its holdings in Boston Properties by 107,870.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,991,255 shares of the real estate investment trust's stock worth $404,889,000 after purchasing an additional 5,985,706 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Boston Properties by 527.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,150,133 shares of the real estate investment trust's stock valued at $77,726,000 after purchasing an additional 966,887 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Boston Properties by 86.2% during the third quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust's stock worth $112,977,000 after purchasing an additional 906,069 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Boston Properties by 92.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,694,522 shares of the real estate investment trust's stock worth $97,588,000 after purchasing an additional 813,929 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

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.