Boston Properties (NYSE:BXP) Posts Quarterly Earnings Results, Beats Expectations By $0.64 EPS

Boston Properties (NYSE:BXPGet Rating) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.64, RTT News reports. Boston Properties had a net margin of 22.04% and a return on equity of 8.19%. During the same quarter in the prior year, the business earned $1.72 earnings per share. Boston Properties updated its Q3 guidance to $1.86-1.88 EPS and its FY22 guidance to $7.48-7.53 EPS.

Boston Properties Stock Performance

Boston Properties stock traded up $0.58 during midday trading on Thursday, hitting $90.58. The company’s stock had a trading volume of 15,844 shares, compared to its average volume of 1,167,743. Boston Properties has a 1-year low of $84.86 and a 1-year high of $133.11. The company has a debt-to-equity ratio of 1.65, a current ratio of 4.73 and a quick ratio of 4.73. The company has a 50-day moving average price of $95.31 and a two-hundred day moving average price of $112.12. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.06 and a beta of 1.15.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Wednesday, June 29th. Boston Properties’s dividend payout ratio (DPR) is 93.33%.

Analysts Set New Price Targets

BXP has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Boston Properties from $120.00 to $112.00 and set a “sell” rating for the company in a research report on Wednesday, May 25th. UBS Group reiterated a “maintains” rating on shares of Boston Properties in a research note on Thursday. Mizuho cut their price target on shares of Boston Properties from $135.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, July 6th. Piper Sandler cut shares of Boston Properties from an “overweight” rating to a “neutral” rating and cut their price target for the company from $120.00 to $100.00 in a research note on Thursday. Finally, Credit Suisse Group assumed coverage on shares of Boston Properties in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $108.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.31.

Institutional Trading of Boston Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its holdings in shares of Boston Properties by 1,272.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,318 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 1,222 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in shares of Boston Properties in the 1st quarter worth approximately $204,000. Raymond James Trust N.A. acquired a new position in shares of Boston Properties in the 1st quarter worth approximately $208,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Boston Properties in the 1st quarter worth approximately $214,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Boston Properties by 539.8% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,670 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 1,409 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

About Boston Properties

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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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Earnings History for Boston Properties (NYSE:BXP)

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