Boston Properties (NYSE:BXP) Posts Quarterly Earnings Results, Misses Expectations By $1.22 EPS

Boston Properties (NYSE:BXP - Get Free Report) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($1.22), Yahoo Finance reports. The company had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share.

Boston Properties Trading Down 4.3 %

Shares of Boston Properties stock traded down $2.64 on Wednesday, hitting $59.25. 2,337,735 shares of the company's stock traded hands, compared to its average volume of 1,432,934. Boston Properties has a one year low of $46.80 and a one year high of $73.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. The company has a fifty day moving average of $62.81 and a two-hundred day moving average of $63.04. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 48.97 and a beta of 1.15.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.62%. Boston Properties's dividend payout ratio (DPR) is presently 323.97%.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 through the SEC website. 1.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BXP shares. Jefferies Financial Group upgraded Boston Properties from a "hold" rating to a "buy" rating and raised their price target for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. Truist Financial reduced their target price on Boston Properties from $77.00 to $75.00 and set a "hold" rating for the company in a research note on Tuesday, March 5th. BMO Capital Markets reduced their target price on Boston Properties from $80.00 to $78.00 and set an "outperform" rating for the company in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a research note on Tuesday, January 30th. They issued a "hold" rating and a $74.00 price target for the company. Finally, StockNews.com upgraded Boston Properties from a "sell" rating to a "hold" rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Boston Properties currently has an average rating of "Hold" and an average price target of $69.44.

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.