Boston Properties (NYSE:BXP) Releases FY24 Earnings Guidance

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

Boston Properties Price Performance

Shares of NYSE:BXP traded down $2.19 during trading on Thursday, reaching $80.56. The stock had a trading volume of 1,875,002 shares, compared to its average volume of 1,270,013. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The business has a fifty day moving average price of $80.67 and a 200-day moving average price of $69.48. The stock has a market cap of $12.65 billion, a PE ratio of 34.87, a PEG ratio of 0.56 and a beta of 1.18. Boston Properties has a 1-year low of $50.64 and a 1-year high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The firm had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 earnings per share. On average, equities analysts forecast that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is currently 169.70%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BXP. Wedbush boosted their price objective on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI boosted their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Truist Financial boosted their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Barclays upped their price target on Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.75.

Insider Buying and Selling

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

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.