Streetbeat News

BXP

Boston Properties, Inc.

https://www.bostonproperties.com

Industry

REIT - Office

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.

Open

82.74

Mkt cap

13B

Volume

1.3M

High

83.13

P/E Ratio

36.04

52-wk high

90.11

Low

82.03

Div yield

0.05

52-wk low

50.64

Following the Federal Reserve's indication of no expected rate cuts in early 2024, U.S. equity markets, particularly technology stocks, consumer goods, and small caps, experienced significant downturns. The S&P 500, Nasdaq, and Russell 2000 indexes all closed lower, with corresponding ETFs SPY, QQQ, and IWM reflecting these declines. The Fed's stance, seen as a slight hawkish turn, has led to concerns over a potential policy mistake, impacting companies reliant on capital market borrowing and consumer credit. Notably, Alphabet's shares dropped 7.5%, while Lululemon and Nike also saw declines. The iShares U.S. Technology ETF and the Consumer Discretionary Select Sector SPDR Fund experienced downturns but showed signs of recovery the following day.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 5:55 pm

Boston Properties projects Q1 FFO per share to be between $1.72 and $1.74, surpassing the estimated $1.69. For 2024, the company forecasts FFO per share to range from $7.00 to $7.20, closely aligning with the estimated $7.19.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:43 pm

Boston Properties (NYSE:BXP) reported a Q4 FFO per share of $1.82, slightly beating the estimate of $1.81, and sales of $828.93M, surpassing the expected $813.32M. However, the FFO per share represents a 2.15% decrease from the same quarter last year, while sales show a 4.95% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:39 pm

Boston Props (NYSE:BXP) is distributing a dividend of $0.98 per share with a 5.49% yield. Shareholders eligible for the payout owned the stock before December 28, 2023. The company has maintained a steady dividend per share of $3.92 from 2020 to 2023 and experienced earnings growth from $6.79 to $7.31 per share, indicating financial health and potential for continued profit sharing with investors. Office Props IT (NASDAQ:OPI) has a higher yield at 20.65%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:05 pm

Deutsche Bank analyst Omotayo Okusanya has initiated coverage on Boston Properties (BXP) with a Hold rating and set a price target of $74.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:32 am

Barclays analyst Anthony Powell has maintained an Equal-Weight rating on Boston Properties (NYSE:BXP) but has reduced the price target from $65 to $64.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:35 am

A list of companies are scheduled to report their earnings on January 30, 2024, with expectations for their quarterly earnings per share (EPS) and revenue. The list includes a mix of projected profits and losses across various industries. Notable companies include Pfizer with an expected quarterly loss and tech giants like Alphabet and Microsoft anticipating earnings.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 10:08 am

Shares of Real Estate Investment Trusts (REITs) are trading lower due to an increase in Treasury yields. Higher yields can make dividend-paying assets like REITs less attractive to investors seeking income.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 7:41 pm

Boston Properties (NYSE:BXP) received mixed analyst ratings over the last three months, with 1 bullish and 3 indifferent ratings. The average 12-month price target for BXP is now $73.5, up 12.21% from the previous $65.50. Analysts from Truist Securities and Piper Sandler adjusted their price targets, while Jefferies raised their target significantly. Boston Properties has shown a positive revenue trend with a growth rate of 4.27% as of September 30, 2023, but has a negative net margin of -13.57% and an ROE of -1.89%. The company's debt-to-equity ratio is high at 2.69.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 7:00 pm

Truist Securities analyst Barry Jonas has maintained a Hold rating on Boston Properties (NYSE:BXP) but reduced the price target from $79 to $77.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 6:43 pm

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