Boston Properties (NYSE:BXP – Get 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
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
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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