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

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

Boston Properties Stock Down 1.4 %

Shares of BXP traded down $1.22 on Tuesday, hitting $86.17. The company's stock had a trading volume of 1,311,260 shares, compared to its average volume of 1,262,693. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 70.65, a P/E/G ratio of 0.56 and a beta of 1.18. The firm's fifty day moving average price is $79.91 and its 200-day moving average price is $69.13. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11.

Boston Properties (NYSE:BXP - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. On average, equities research analysts expect that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Piper Sandler raised Boston Properties from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Scotiabank lifted their price objective on shares of Boston Properties from $82.00 to $91.00 and gave the company a "sector outperform" rating in a report on Friday. Barclays increased their target price on shares of Boston Properties from $65.00 to $88.00 and gave the stock an "equal weight" rating in a report on Monday. Truist Financial lifted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. Finally, Wedbush increased their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Boston Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.82.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the firm's 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Company insiders own 1.35% 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.

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