Boston Properties (NYSE:BXP) – Equities research analysts at SunTrust Banks dropped their Q2 2018 earnings per share estimates for Boston Properties in a research note issued on Thursday, May 10th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $1.58 per share for the quarter, down from their prior forecast of $1.61. SunTrust Banks currently has a “Hold” rating and a $127.00 price objective on the stock. SunTrust Banks also issued estimates for Boston Properties’ FY2018 earnings at $6.33 EPS, Q1 2019 earnings at $1.62 EPS, Q2 2019 earnings at $1.69 EPS, Q3 2019 earnings at $1.74 EPS, Q4 2019 earnings at $1.80 EPS, FY2019 earnings at $6.85 EPS and FY2022 earnings at $8.00 EPS.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.50. The business had revenue of $661.20 million during the quarter, compared to the consensus estimate of $648.23 million. Boston Properties had a return on equity of 6.81% and a net margin of 20.48%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share.
A number of other equities research analysts also recently issued reports on the company. Bank of America raised Boston Properties from a “neutral” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Thursday, February 15th. Argus reissued a “buy” rating and set a $138.00 price target (down previously from $140.00) on shares of Boston Properties in a research report on Monday, February 26th. BMO Capital Markets reissued a “hold” rating and set a $134.00 price target on shares of Boston Properties in a research report on Thursday, February 1st. Barclays lowered their price target on Boston Properties from $135.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Robert W. Baird reissued a “hold” rating and set a $134.00 price target on shares of Boston Properties in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $131.54.
Shares of NYSE:BXP opened at $119.00 on Monday. The firm has a market capitalization of $19.20 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 3.35 and a beta of 0.57. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.29. Boston Properties has a 52 week low of $119.03 and a 52 week high of $121.72.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 28th.
In other Boston Properties news, insider Bryan J. Koop sold 10,560 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $124.27, for a total transaction of $1,312,291.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Boston Properties by 19.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 278,662 shares of the real estate investment trust’s stock worth $34,337,000 after purchasing an additional 46,195 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Boston Properties by 4.6% during the first quarter. Earnest Partners LLC now owns 187,347 shares of the real estate investment trust’s stock worth $23,085,000 after purchasing an additional 8,269 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Boston Properties by 8.1% during the first quarter. The Manufacturers Life Insurance Company now owns 161,777 shares of the real estate investment trust’s stock worth $19,934,000 after purchasing an additional 12,160 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Boston Properties during the first quarter worth about $1,060,000. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Boston Properties by 10.9% during the first quarter. Lord Abbett & CO. LLC now owns 555,278 shares of the real estate investment trust’s stock worth $68,421,000 after purchasing an additional 54,638 shares in the last quarter. Institutional investors own 95.34% of the company’s stock.
Boston Properties Company Profile
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.3 million square feet and consisting of 167 office properties (including eight properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.
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