Equities research analysts forecast that Boston Properties, Inc. (NYSE:BXP) will report sales of $627.93 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Boston Properties’ earnings, with the lowest sales estimate coming in at $617.62 million and the highest estimate coming in at $641.96 million. Boston Properties posted sales of $657.71 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.5%. The business is expected to report its next earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Boston Properties will report full year sales of $2.50 billion for the current year, with estimates ranging from $2.46 billion to $2.57 billion. For the next financial year, analysts expect that the company will report sales of $2.61 billion, with estimates ranging from $2.51 billion to $2.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boston Properties.
Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.73). The business had revenue of $664.48 million for the quarter, compared to analyst estimates of $667.92 million. Boston Properties had a net margin of 20.23% and a return on equity of 6.71%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.67 earnings per share.
A number of research analysts have weighed in on BXP shares. JPMorgan Chase & Co. raised shares of Boston Properties from a “neutral” rating to an “overweight” rating in a research report on Friday, October 5th. SunTrust Banks lifted their price target on shares of Boston Properties to $137.00 and gave the company a “hold” rating in a research report on Monday, August 20th. Jefferies Financial Group raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research report on Monday. Deutsche Bank lifted their price target on shares of Boston Properties from $133.00 to $134.00 and gave the company a “hold” rating in a research report on Tuesday, June 26th. Finally, Scotiabank started coverage on shares of Boston Properties in a research report on Tuesday. They set a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $133.69.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in shares of Boston Properties during the second quarter worth $227,000. Atria Investments LLC acquired a new position in shares of Boston Properties during the third quarter worth $226,000. Fieldpoint Private Securities LLC lifted its position in shares of Boston Properties by 53.6% during the second quarter. Fieldpoint Private Securities LLC now owns 2,006 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 700 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Boston Properties by 91.9% during the second quarter. Federated Investors Inc. PA now owns 2,007 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 961 shares in the last quarter. Finally, Lourd Capital LLC acquired a new position in shares of Boston Properties during the third quarter worth $262,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of BXP stock opened at $116.48 on Friday. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 3.23 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.02 and a current ratio of 4.02. Boston Properties has a fifty-two week low of $111.57 and a fifty-two week high of $132.82.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, September 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.75%.
About Boston Properties
Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.
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