Boston Properties (NYSE:BXP) Releases Earnings Results, Misses Expectations By $1.21 EPS

Boston Properties (NYSE:BXP) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21), Yahoo Finance reports. 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 in the prior year, the business earned $1.86 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.

Boston Properties Stock Down 2.1 %

Shares of BXP traded down $1.48 during mid-day trading on Thursday, reaching $69.83. 1,031,919 shares of the stock traded hands, compared to its average volume of 1,335,784. The stock has a fifty day simple moving average of $62.99 and a 200 day simple moving average of $63.61. Boston Properties has a 12-month low of $50.64 and a 12-month high of $73.97. 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 firm has a market cap of $10.97 billion, a price-to-earnings ratio of 58.45, a P/E/G ratio of 0.48 and a beta of 1.18.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Friday, June 28th. Boston Properties’s dividend payout ratio is presently 321.31%.

Wall Street Analysts Forecast Growth

BXP has been the subject of several recent research reports. Wedbush decreased their price target on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Truist Financial lowered their price objective on Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Barclays dropped their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. Finally, StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus target price of $69.60.

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.