Wedbush Equities Analysts Lower Earnings Estimates for BXP

Boston Properties, Inc. (NYSE:BXP) – Wedbush decreased their Q4 2024 earnings estimates for shares of Boston Properties in a report issued on Wednesday, November 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $1.79 per share for the quarter, down from their prior estimate of $1.81. Wedbush currently 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. Wedbush also issued estimates for Boston Properties’ FY2025 earnings at $7.15 EPS.

Several other analysts have also recently commented on BXP. 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 research note on Monday, September 16th. Scotiabank restated a “sector perform” rating and set a $85.00 target price on shares of Boston Properties in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Barclays lifted their price target on shares of Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.85.

Boston Properties Stock Up 0.1 %

Shares of NYSE:BXP opened at $79.48 on Friday. The stock has a market cap of $12.57 billion, a P/E ratio of 34.41, a P/E/G ratio of 0.54 and a beta of 1.18. The firm has a fifty day moving average price of $81.84 and a 200 day moving average price of $70.83. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. Boston Properties has a 1-year low of $52.61 and a 1-year high of $90.11.

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

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.93%. Boston Properties’s payout ratio is currently 169.70%.

Insider Transactions at Boston Properties

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

Institutional Trading of Boston Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in BXP. Envestnet Portfolio Solutions Inc. increased its stake in shares of Boston Properties by 19.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,419 shares of the real estate investment trust’s stock worth $811,000 after buying an additional 1,986 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Boston Properties by 356.2% in the first quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock worth $15,977,000 after buying an additional 191,883 shares during the last quarter. US Bancorp DE increased its stake in Boston Properties by 2.9% during the first quarter. US Bancorp DE now owns 48,289 shares of the real estate investment trust’s stock valued at $3,154,000 after purchasing an additional 1,378 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Boston Properties by 19.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,984 shares of the real estate investment trust’s stock valued at $17,306,000 after purchasing an additional 43,195 shares during the last quarter. Finally, M&G Plc bought a new stake in Boston Properties during the first quarter valued at $3,807,000. Institutional investors own 98.72% of the company’s stock.

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.