SunTrust Banks Weighs in on Boston Properties, Inc.’s FY2018 Earnings (BXP)

Boston Properties, Inc. (NYSE:BXP) – SunTrust Banks lifted their FY2018 earnings estimates for Boston Properties in a research note issued to investors on Wednesday, November 21st. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $6.39 per share for the year, up from their prior estimate of $6.36. SunTrust Banks has a “Hold” rating and a $135.00 price objective on the stock. SunTrust Banks also issued estimates for Boston Properties’ Q4 2018 earnings at $1.68 EPS, FY2020 earnings at $7.13 EPS and FY2021 earnings at $7.46 EPS.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.05. The company had revenue of $686.28 million during the quarter, compared to the consensus estimate of $674.30 million. Boston Properties had a net margin of 20.18% and a return on equity of 6.75%. Boston Properties’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS.

A number of other analysts also recently commented on BXP. Jefferies Financial Group reiterated a “hold” rating and issued a $118.00 price objective on shares of Boston Properties in a report on Wednesday, August 1st. Stifel Nicolaus increased their price objective on shares of Boston Properties from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Barclays reiterated a “buy” rating and issued a $134.00 price objective on shares of Boston Properties in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a report on Thursday. Finally, TheStreet upgraded shares of Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Boston Properties presently has an average rating of “Buy” and an average target price of $135.71.

BXP stock opened at $125.61 on Monday. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 3.28 and a beta of 0.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.74 and a quick ratio of 3.74. Boston Properties has a 12 month low of $111.57 and a 12 month high of $132.82.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.55%.

Several large investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its position in shares of Boston Properties by 7.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,723 shares of the real estate investment trust’s stock worth $718,000 after purchasing an additional 388 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Boston Properties by 0.4% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 116,946 shares of the real estate investment trust’s stock worth $14,668,000 after purchasing an additional 410 shares during the period. Creative Planning boosted its position in shares of Boston Properties by 7.7% during the 3rd quarter. Creative Planning now owns 6,253 shares of the real estate investment trust’s stock worth $770,000 after purchasing an additional 447 shares during the period. Mackenzie Financial Corp boosted its position in shares of Boston Properties by 22.9% during the 3rd quarter. Mackenzie Financial Corp now owns 2,885 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 538 shares during the period. Finally, Hamel Associates Inc. boosted its position in shares of Boston Properties by 3.2% during the 3rd quarter. Hamel Associates Inc. now owns 17,875 shares of the real estate investment trust’s stock worth $2,200,000 after purchasing an additional 550 shares during the period. 96.30% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Company Profile

Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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Earnings History and Estimates for Boston Properties (NYSE:BXP)

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