Zacks: Brokerages Expect Boston Properties, Inc. (BXP) Will Post Quarterly Sales of $632.92 Million
Brokerages expect Boston Properties, Inc. (NYSE:BXP) to post sales of $632.92 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Boston Properties’ earnings. The lowest sales estimate is $592.91 million and the highest is $651.40 million. Boston Properties posted sales of $636.06 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The company is scheduled to issue its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Boston Properties will report full-year sales of $632.92 million for the current financial year, with estimates ranging from $2.38 billion to $2.70 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.64 billion per share, with estimates ranging from $2.52 billion to $2.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Boston Properties.
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, beating the consensus estimate of $1.54 by $0.03. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The firm had revenue of $657.70 million during the quarter, compared to the consensus estimate of $649.84 million. During the same period last year, the business posted $1.42 EPS. Boston Properties’s quarterly revenue was up 5.2% on a year-over-year basis.
A number of brokerages have commented on BXP. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a report on Friday, November 3rd. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Mizuho reiterated a “hold” rating and set a $122.00 target price on shares of Boston Properties in a report on Friday, November 3rd. Royal Bank of Canada cut Boston Properties from a “top pick” rating to an “outperform” rating and lowered their target price for the company from $150.00 to $140.00 in a report on Thursday, August 17th. Finally, BidaskClub cut Boston Properties from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $133.36.
In other news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the sale, the insider now owns 585 shares in the company, valued at $72,861.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.17% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BXP. Amica Retiree Medical Trust purchased a new position in shares of Boston Properties in the 3rd quarter worth $105,000. Harbour Capital Advisors LLC raised its position in shares of Boston Properties by 12,201.8% in the 2nd quarter. Harbour Capital Advisors LLC now owns 13,532 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 13,422 shares during the period. NewSquare Capital LLC raised its position in shares of Boston Properties by 12,184.0% in the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 121,840 shares during the period. Sun Life Financial INC raised its position in shares of Boston Properties by 10,118.2% in the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 1,113 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Boston Properties in the 1st quarter worth $200,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.
Boston Properties (BXP) traded down $0.16 during midday trading on Wednesday, reaching $125.85. The company had a trading volume of 566,800 shares, compared to its average volume of 684,661. Boston Properties has a 12-month low of $116.77 and a 12-month high of $140.13. The stock has a market cap of $19,446.15, a P/E ratio of 20.13, a P/E/G ratio of 3.64 and a beta of 0.63. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Thursday, September 28th. Boston Properties’s dividend payout ratio (DPR) is 93.75%.
Boston Properties Company Profile
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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