Boston Properties (NYSE:BXP) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday. They currently have a $134.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price objective suggests a potential upside of 9.54% from the company’s current price. The analysts noted that the move was a valuation call.
Several other brokerages have also issued reports on BXP. SunTrust Banks reaffirmed a “hold” rating and set a $130.00 target price on shares of Boston Properties in a research report on Monday, October 9th. Royal Bank of Canada set a $140.00 target price on Boston Properties and gave the company a “buy” rating in a research report on Monday, November 27th. Evercore ISI reaffirmed an “in-line” rating and set a $133.00 target price (up from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. Argus reduced their target price on Boston Properties to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 16th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $124.00 target price on shares of Boston Properties in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $131.00.
Shares of Boston Properties (NYSE:BXP) traded down $1.53 during trading hours on Tuesday, reaching $122.33. The company had a trading volume of 637,036 shares, compared to its average volume of 824,556. Boston Properties has a 12 month low of $116.77 and a 12 month high of $140.13. The firm has a market cap of $19,114.36, a price-to-earnings ratio of 38.23, a P/E/G ratio of 3.48 and a beta of 0.63. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92.
Boston Properties (NYSE:BXP) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $657.70 million for the quarter, compared to analyst estimates of $649.84 million. During the same period in the prior year, the company posted $1.42 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. equities analysts predict that Boston Properties will post 6.23 earnings per share for the current fiscal year.
In other news, insider Bryan J. Koop sold 5,868 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total value of $730,859.40. Following the transaction, the insider now directly owns 585 shares of the company’s stock, valued at $72,861.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.17% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boston Properties by 1.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,574 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 61 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Boston Properties by 6.5% in the second quarter. Commonwealth Bank of Australia now owns 2,077 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 127 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Boston Properties by 7.3% in the second quarter. MML Investors Services LLC now owns 2,022 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 137 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Boston Properties by 1.9% in the second quarter. HighTower Advisors LLC now owns 7,652 shares of the real estate investment trust’s stock worth $941,000 after buying an additional 140 shares during the last quarter. Finally, Millie Capital Management LLC boosted its stake in shares of Boston Properties by 3.4% in the second quarter. Millie Capital Management LLC now owns 4,473 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 146 shares during the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.
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About Boston Properties
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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