Boston Properties (NYSE:BXP) Updates FY 2024 Earnings Guidance

Boston Properties (NYSE:BXP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.090-7.110 for the period, compared to the consensus earnings per share estimate of 7.110. The company issued revenue guidance of -. Boston Properties also updated its FY24 guidance to $7.09-7.11 EPS.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BXP shares. Evercore ISI boosted their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Scotiabank boosted their price objective on Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a research report on Friday. Wells Fargo & Company increased their target price on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Barclays boosted their price target on Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Boston Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.82.

Boston Properties Trading Down 1.4 %

NYSE:BXP traded down $1.22 on Tuesday, reaching $86.17. 1,311,260 shares of the stock traded hands, compared to its average volume of 1,262,693. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. Boston Properties has a 1-year low of $50.64 and a 1-year high of $90.11. The company’s 50 day moving average is $79.91 and its 200-day moving average is $69.13. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 70.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same quarter last year, the company earned $1.86 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Boston Properties will post 7.11 EPS for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a yield of 4.55%. Boston Properties’s payout ratio is currently 321.31%.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,785 shares of the 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. Corporate 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.