Boston Properties (NYSE:BXP) Updates Q3 2024 Earnings Guidance

Boston Properties (NYSE:BXP) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.800-1.820 for the period, compared to the consensus earnings per share estimate of 1.790. The company issued revenue guidance of -. Boston Properties also updated its FY 2024 guidance to 7.090-7.150 EPS.

Boston Properties Trading Up 1.9 %

BXP traded up $1.37 during trading on Tuesday, reaching $72.72. 1,752,757 shares of the stock traded hands, compared to its average volume of 1,323,752. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $11.42 billion, a PE ratio of 59.61, a P/E/G ratio of 0.46 and a beta of 1.18. The stock’s 50-day moving average is $62.79 and its 200 day moving average is $63.56. Boston Properties has a 12 month low of $50.64 and a 12 month high of $73.97.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The firm had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Equities analysts anticipate that Boston Properties will post 7.04 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.98 per share. The ex-dividend date is Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.39%. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush reduced their target price on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets reduced their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research note on Monday, April 8th. Barclays reduced their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Truist Financial reduced their target price on Boston Properties from $75.00 to $67.00 and set a hold rating for the company in a research note on Friday, June 14th. Finally, Morgan Stanley restated an equal weight rating and issued a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Boston Properties presently has a consensus rating of Hold and a consensus price target of $69.60.

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.