Boston Properties, Inc. (NYSE:BXP) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.53-1.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.55. Boston Properties also updated its FY18 guidance to $6.20 – $6.36 EPS.
Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.88. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The firm had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. Boston Properties’s dividend payout ratio (DPR) is presently 102.04%.
A number of equities analysts have weighed in on BXP shares. Barclays PLC cut their target price on shares of Boston Properties from $137.00 to $135.00 and set an overweight rating for the company in a research report on Thursday, August 31st. Royal Bank Of Canada lowered shares of Boston Properties from a top pick rating to an outperform rating and cut their price objective for the company from $150.00 to $140.00 in a research report on Thursday, August 17th. BidaskClub lowered shares of Boston Properties from a hold rating to a sell rating in a research report on Monday, July 24th. Evercore ISI restated an in-line rating and issued a $133.00 price objective (up from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Boston Properties from a hold rating to a sell rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Boston Properties has an average rating of Hold and a consensus price target of $134.50.
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About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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