Boston Properties (NYSE:BXP) Announces Quarterly Earnings Results

Boston Properties (NYSE:BXP) released its quarterly earnings results on Tuesday. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.68), Fidelity Earnings reports. Boston Properties had a net margin of 18.15% and a return on equity of 6.31%. The company had revenue of $733.74 million for the quarter, compared to the consensus estimate of $725.14 million. During the same period in the prior year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Boston Properties updated its Q3 guidance to $1.75-1.77 EPS and its FY19 guidance to $7.02-7.08 EPS.

NYSE:BXP opened at $134.95 on Wednesday. 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 $20.29 billion, a P/E ratio of 21.42, a P/E/G ratio of 3.06 and a beta of 0.86. Boston Properties has a 12 month low of $107.84 and a 12 month high of $140.35. The stock has a 50-day moving average price of $132.22.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors 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 dividend on an annualized basis and a dividend yield of 2.82%. Boston Properties’s dividend payout ratio is currently 60.32%.

A number of equities analysts have recently weighed in on the company. Deutsche Bank dropped their price objective on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Zacks Investment Research lowered GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Finally, Morgan Stanley assumed coverage on in a research note on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Boston Properties currently has an average rating of “Hold” and a consensus price target of $137.29.

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

About Boston Properties

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 for Boston Properties (NYSE:BXP)

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