BXP (NYSE:BXP) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

BXP (NYSE:BXP) released its quarterly earnings data on Tuesday. The real estate investment trust reported $1.76 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.04), Zacks reports. BXP had a positive return on equity of 1.35% and a negative net margin of 5.82%.

BXP Price Performance

BXP stock traded up $0.46 during mid-day trading on Tuesday, hitting $65.23. The stock had a trading volume of 3,457,669 shares, compared to its average volume of 1,750,781. BXP has a one year low of $54.22 and a one year high of $79.33. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $10.34 billion, a P/E ratio of -51.36, a P/E/G ratio of 7.72 and a beta of 1.01. The firm’s 50 day moving average is $68.93 and its 200 day moving average is $70.44.

BXP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.3%. BXP’s payout ratio is -220.47%.

Insiders Place Their Bets

In other BXP news, CFO Michael E. Labelle sold 13,422 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.34, for a total transaction of $970,947.48. Following the completion of the sale, the chief financial officer directly owned 9,223 shares of the company’s stock, valued at $667,191.82. This trade represents a 59.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter V. Otteni sold 4,136 shares of BXP stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $72.65, for a total transaction of $300,480.40. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,710 shares of company stock valued at $5,107,771 over the last three months. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On BXP

Several institutional investors have recently bought and sold shares of BXP. MUFG Securities EMEA plc purchased a new position in BXP during the 2nd quarter valued at approximately $29,000. BOKF NA boosted its position in shares of BXP by 2,097.0% during the 3rd quarter. BOKF NA now owns 725 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 692 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of BXP in the third quarter valued at $68,000. EverSource Wealth Advisors LLC increased its position in BXP by 29.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,120 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 257 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in BXP by 107.7% during the third quarter. CIBC Private Wealth Group LLC now owns 1,724 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 894 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BXP. Evercore ISI reduced their price target on shares of BXP from $77.00 to $76.00 and set an “in-line” rating for the company in a research note on Friday, November 14th. New Street Research set a $85.00 price target on BXP in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 price target on shares of BXP in a research note on Tuesday, January 6th. Jefferies Financial Group upped their price objective on BXP from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Wells Fargo & Company lowered their target price on BXP from $77.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.90.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.