Zacks: Analysts Anticipate Boston Properties, Inc. (NYSE:BXP) Will Post Earnings of $1.74 Per Share

Wall Street analysts expect Boston Properties, Inc. (NYSE:BXPGet Rating) to report earnings of $1.74 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Boston Properties’ earnings, with estimates ranging from $1.73 to $1.75. Boston Properties posted earnings of $1.56 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.5%. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Boston Properties will report full year earnings of $7.40 per share for the current fiscal year, with EPS estimates ranging from $7.35 to $7.44. For the next financial year, analysts forecast that the company will post earnings of $7.97 per share, with EPS estimates ranging from $7.82 to $8.04. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Boston Properties.

Boston Properties (NYSE:BXPGet Rating) last released its quarterly earnings data on Tuesday, January 25th. The real estate investment trust reported $1.18 EPS for the quarter, beating the consensus estimate of $0.50 by $0.68. Boston Properties had a net margin of 17.49% and a return on equity of 6.26%. The business had revenue of $731.06 million during the quarter, compared to the consensus estimate of $729.00 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue was up 9.9% on a year-over-year basis.

A number of research firms have recently issued reports on BXP. TheStreet upgraded shares of Boston Properties from a “c+” rating to a “b” rating in a research note on Tuesday, January 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Properties from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets upgraded shares of Boston Properties from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $140.00 in a research report on Friday, January 7th. Mizuho boosted their price target on shares of Boston Properties from $115.00 to $120.00 in a research report on Thursday, January 20th. Finally, Truist Financial boosted their target price on shares of Boston Properties from $131.00 to $134.00 in a report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Properties currently has an average rating of “Hold” and a consensus target price of $130.00.

Boston Properties stock opened at $124.59 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 4.54 and a quick ratio of 4.54. Boston Properties has a 1-year low of $103.20 and a 1-year high of $133.11. The firm has a market capitalization of $19.52 billion, a P/E ratio of 39.30, a price-to-earnings-growth ratio of 2.94 and a beta of 1.10. The company’s 50-day moving average is $123.14 and its 200 day moving average is $118.52.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Thursday, March 31st will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $3.92 annualized dividend and a yield of 3.15%. Boston Properties’s dividend payout ratio (DPR) is currently 123.66%.

In related news, EVP Raymond A. Ritchey sold 21,102 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $120.52, for a total transaction of $2,543,213.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Boston Properties during the 4th quarter worth about $1,501,665,000. TCI Fund Management Ltd. lifted its stake in Boston Properties by 13.6% in the 3rd quarter. TCI Fund Management Ltd. now owns 12,988,749 shares of the real estate investment trust’s stock valued at $1,407,331,000 after purchasing an additional 1,556,357 shares during the last quarter. BlackRock Inc. raised its holdings in Boston Properties by 6.9% in the 4th quarter. BlackRock Inc. now owns 17,343,626 shares of the real estate investment trust’s stock valued at $1,997,639,000 after acquiring an additional 1,119,895 shares during the period. State Street Corp raised its holdings in Boston Properties by 7.8% in the 4th quarter. State Street Corp now owns 10,388,227 shares of the real estate investment trust’s stock valued at $1,206,521,000 after acquiring an additional 754,483 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Boston Properties during the fourth quarter worth approximately $75,689,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

About Boston Properties (Get Rating)

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner 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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