Boston Properties, Inc. (NYSE:BXP) – Investment analysts at KeyCorp lifted their FY2017 earnings per share (EPS) estimates for shares of Boston Properties in a note issued to investors on Wednesday, Zacks Investment Research reports. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings of $6.25 per share for the year, up from their previous forecast of $6.24. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Boston Properties’ Q4 2017 earnings at $1.52 EPS and Q1 2018 earnings at $1.53 EPS.
Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.03. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The business had revenue of $657.70 million for the quarter, compared to analyst estimates of $649.84 million. During the same quarter last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis.
A number of other research firms have also commented on BXP. Jefferies Group reiterated a “hold” rating and set a $124.00 price objective on shares of Boston Properties in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. SunTrust Banks restated a “hold” rating and issued a $130.00 price target on shares of Boston Properties in a research report on Monday, October 9th. BMO Capital Markets lowered shares of Boston Properties from an “outperform” rating to a “market perform” rating and set a $134.00 price target on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $140.00 price target on shares of Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $131.00.
Boston Properties (NYSE:BXP) traded down $1.53 during midday trading on Friday, hitting $122.33. 637,036 shares of the company were exchanged, compared to its average volume of 824,556. Boston Properties has a fifty-two week low of $116.77 and a fifty-two week high of $140.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $19,114.36, a price-to-earnings ratio of 38.23, a PEG ratio of 3.48 and a beta of 0.63.
A number of institutional investors have recently bought and sold shares of the stock. Motco boosted its stake in Boston Properties by 0.9% in the 2nd quarter. Motco now owns 3,617 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 34 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Boston Properties by 1.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,574 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 61 shares during the period. Commonwealth Bank of Australia boosted its stake in Boston Properties by 6.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,077 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 127 shares during the period. MML Investors Services LLC boosted its stake in Boston Properties by 7.3% in the 2nd quarter. MML Investors Services LLC now owns 2,022 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 137 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Boston Properties by 1.9% in the 2nd quarter. HighTower Advisors LLC now owns 7,652 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 140 shares during the period. 95.22% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the completion of the transaction, the insider now owns 585 shares of the company’s stock, valued at approximately $72,861.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.17% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be paid a $0.80 dividend. This is a positive change from Boston Properties’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a yield of 2.62%. Boston Properties’s dividend payout ratio (DPR) is currently 100.00%.
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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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