BXP, Inc. (BXP), with a market cap of $10.9 billion, is one of the largest publicly traded real estate investment trust specializing in premier workplace development, ownership, and management in the U.S. Based in Boston, Massachusetts, the company is expected to announce its fiscal Q2 earnings results after the market closes on Tuesday, Jul. 30.
Ahead of this event, analysts expect BXP to report funds from operations (FFO) of $1.72 per share, down 7.5% from the previous year's $1.86 per share. However, the company has surpassed or met Wall Street's bottom-line estimates in the last four quarters. BXP reported an FFO of $1.73 per share in the most recent quarter, which met the consensus estimate.
For fiscal 2024, analysts expect BXP to report an FFO of $7.04 per share, a decrease of 3.3% from $7.28 per share in fiscal 2023. However, looking forward to fiscal 2025, the company’s EPS is projected to grow 2.3% year over year to $7.20.
Over the past 52 weeks, BXP has gained 7.2%, underperforming the S&P 500 Index's ($SPX) 22.5% gain but outpacing the S&P 500 Real Estate Sector SPDR's (XLRE) 4.6% increase over the same period.
Shares of BXP dipped 4.3% following its Q1 earnings release on Apr. 30, primarily because the company missed the midpoint of its EPS guidance by $0.16 per share. This miss was significantly impacted by a non-cash impairment charge and higher depreciation and amortization expenses. The reduction in guidance for full-year 2024 EPS and FFO further contributed to investor concerns due to increased interest expenses and other costs.
Overall, analysts' consensus view on BXP stock is cautiously optimistic, with a "Moderate Buy" rating. Out of 21 analysts covering the stock, seven give a "Strong Buy," 13 give a "Hold" rating, and one has a "Strong Sell" rating.
This configuration has remained steady over the past three months. Currently, BXP is trading slightly above the average analyst price target of $68.67.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
