Boston Properties (NYSE:BXP) Issues FY24 Earnings Guidance

Boston Properties (NYSE:BXP - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $6.98-7.10 for the period, compared to the consensus EPS estimate of $7.13. Boston Properties also updated its FY 2024 guidance to 6.980-7.100 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on BXP. Barclays lowered their price objective on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a research report on Wednesday, March 27th. StockNews.com raised shares of Boston Properties from a sell rating to a hold rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They set a hold rating and a $74.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research report on Monday, April 8th. Finally, Truist Financial lowered their price objective on shares of 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 research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Boston Properties has a consensus rating of Hold and a consensus price target of $69.44.

Boston Properties Price Performance

Shares of NYSE BXP traded down $0.95 during midday trading on Tuesday, hitting $61.89. The company had a trading volume of 1,180,268 shares, compared to its average volume of 1,421,962. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. Boston Properties has a twelve month low of $46.80 and a twelve month high of $73.97. The business has a 50-day simple moving average of $62.94 and a two-hundred day simple moving average of $63.06. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 51.15 and a beta of 1.15.

Boston Properties (NYSE:BXP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The company had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. During the same quarter last year, the business earned $1.86 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Boston Properties will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties's dividend payout ratio (DPR) is 323.97%.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.35% 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.

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