Analysts Anticipate Boston Properties, Inc. (NYSE:BXP) to Announce $1.74 EPS

Wall Street analysts expect that Boston Properties, Inc. (NYSE:BXP) will announce $1.74 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Boston Properties’ earnings. The highest EPS estimate is $1.76 and the lowest is $1.73. Boston Properties reported earnings per share of $1.58 during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.

On average, analysts expect that Boston Properties will report full-year earnings of $6.98 per share for the current fiscal year, with EPS estimates ranging from $6.92 to $7.02. For the next fiscal year, analysts forecast that the firm will report earnings of $7.43 per share, with EPS estimates ranging from $7.29 to $7.60. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Boston Properties.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.06. The business had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $703.16 million. Boston Properties had a return on equity of 6.31% and a net margin of 18.15%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 EPS.

A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Boston Properties from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Deutsche Bank lifted their target price on Boston Properties from $134.00 to $138.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Evercore ISI upgraded Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 target price on the stock in a report on Monday, March 25th. ValuEngine cut Boston Properties from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Morgan Stanley cut Boston Properties from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $130.00 to $116.00 in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $136.71.

Shares of NYSE BXP traded up $0.54 during mid-day trading on Wednesday, reaching $134.23. The company had a trading volume of 19,708 shares, compared to its average volume of 700,664. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.07 and a beta of 0.91. Boston Properties has a 1-year low of $107.84 and a 1-year high of $140.35.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.80 annualized dividend and a dividend yield of 2.83%. Boston Properties’s dividend payout ratio (DPR) is presently 60.32%.

In related news, insider Bryan J. Koop sold 5,616 shares of Boston Properties stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $133.95, for a total transaction of $752,263.20. Following the completion of the sale, the insider now owns 10,175 shares of the company’s stock, valued at $1,362,941.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bryan J. Koop sold 4,121 shares of Boston Properties stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $134.40, for a total value of $553,862.40. Following the sale, the insider now directly owns 585 shares of the company’s stock, valued at approximately $78,624. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Boston Properties by 1.0% during the first quarter. BlackRock Inc. now owns 16,286,406 shares of the real estate investment trust’s stock valued at $2,180,423,000 after purchasing an additional 165,724 shares during the last quarter. Norges Bank acquired a new stake in shares of Boston Properties in the fourth quarter worth about $1,196,899,000. FMR LLC lifted its position in shares of Boston Properties by 2.1% in the fourth quarter. FMR LLC now owns 6,993,478 shares of the real estate investment trust’s stock worth $787,116,000 after buying an additional 142,799 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Boston Properties by 77.5% in the first quarter. Principal Financial Group Inc. now owns 3,058,174 shares of the real estate investment trust’s stock worth $409,428,000 after purchasing an additional 1,335,446 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Boston Properties by 7.3% in the first quarter. Geode Capital Management LLC now owns 2,614,783 shares of the real estate investment trust’s stock worth $349,566,000 after purchasing an additional 177,723 shares during the period. 90.59% 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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