Jefferies Financial Group Comments on Boston Properties, Inc.’s Q2 2023 Earnings (NYSE:BXP)

Posted by Defense World Staff on May 4th, 2023

Boston Properties, Inc. (NYSE:BXP – Get Rating) – Jefferies Financial Group cut their Q2 2023 earnings per share (EPS) estimates for shares of Boston Properties in a report issued on Monday, May 1st. Jefferies Financial Group analyst P. Abramowitz now expects that the real estate investment trust will post earnings of $1.81 per share for the quarter, down from their previous estimate of $1.82. The consensus estimate for Boston Properties’ current full-year earnings is $7.16 per share. Jefferies Financial Group also issued estimates for Boston Properties’ Q3 2023 earnings at $1.82 EPS, Q4 2023 earnings at $1.81 EPS and FY2026 earnings at $7.44 EPS.

Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Boston Properties from a “buy” rating to a “hold” rating and reduced their price target for the company from $91.00 to $74.00 in a research report on Wednesday, January 4th. Morgan Stanley reduced their price target on shares of Boston Properties from $67.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, March 31st. StockNews.com started coverage on shares of Boston Properties in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Argus reduced their price target on shares of Boston Properties from $82.00 to $70.00 in a research report on Monday. Finally, The Goldman Sachs Group began coverage on shares of Boston Properties in a research report on Tuesday, March 21st. They set a “neutral” rating and a $56.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.49.

Boston Properties Trading Down 1.8 %

BXP opened at $50.27 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.76 and a quick ratio of 4.19. The company’s 50 day simple moving average is $55.25 and its two-hundred day simple moving average is $65.26. Boston Properties has a 1-year low of $46.18 and a 1-year high of $123.43. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 10.07 and a beta of 1.07.

Boston Properties (NYSE:BXP – Get Rating) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($1.20). Boston Properties had a return on equity of 9.44% and a net margin of 24.82%. The business had revenue of $803.20 million during the quarter, compared to analysts’ expectations of $778.80 million. During the same period last year, the business earned $1.82 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Hedge Funds Weigh In On Boston Properties

Several large investors have recently bought and sold shares of BXP. Pacer Advisors Inc. raised its holdings in shares of Boston Properties by 3,266.1% in the first quarter. Pacer Advisors Inc. now owns 11,108 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 10,778 shares during the last quarter. Abundance Wealth Counselors raised its holdings in shares of Boston Properties by 49.9% in the first quarter. Abundance Wealth Counselors now owns 4,502 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 1,498 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Boston Properties by 11.4% in the first quarter. Daiwa Securities Group Inc. now owns 57,092 shares of the real estate investment trust’s stock valued at $3,090,000 after buying an additional 5,825 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Boston Properties by 4.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,979 shares of the real estate investment trust’s stock valued at $1,785,000 after buying an additional 1,385 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Boston Properties in the first quarter valued at about $353,000. Institutional investors and hedge funds own 88.62% of the company’s stock.

Insider Buying and Selling at Boston Properties

In related news, Director Matthew J. Lustig acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was bought at an average price of $52.92 per share, for a total transaction of $529,200.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $529,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is currently owned by insiders.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, March 31st were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, March 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 7.80%. Boston Properties’s payout ratio is currently 78.56%.

Boston Properties Company Profile

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Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.