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 research report issued to clients and investors on Tuesday, January 9th. They currently have a $134.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective indicates a potential upside of 9.88% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other research firms have also recently commented on BXP. SunTrust Banks reiterated a “hold” rating and set a $130.00 price objective on shares of Boston Properties in a research report on Monday, October 9th. Royal Bank of Canada set a $140.00 price objective on Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Evercore ISI reiterated an “in-line” rating and set a $133.00 price objective (up previously from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. Argus dropped their price objective on Boston Properties to $140.00 and set a “buy” rating for the company in a research report on Thursday, November 16th. Finally, Jefferies Group reiterated a “hold” rating and set a $124.00 price objective on shares of Boston Properties in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Boston Properties currently has a consensus rating of “Hold” and a consensus price target of $131.00.
Shares of Boston Properties (NYSE:BXP) traded up $0.77 during mid-day trading on Tuesday, hitting $121.95. The stock had a trading volume of 1,061,517 shares, compared to its average volume of 615,444. Boston Properties has a twelve month low of $116.77 and a twelve month high of $140.13. The stock has a market capitalization of $18,700.78, a PE ratio of 38.11, a P/E/G ratio of 3.41 and a beta of 0.63. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92.
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, topping analysts’ consensus estimates of $1.54 by $0.03. The firm had revenue of $657.70 million during the quarter, compared to analysts’ expectations of $649.84 million. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. analysts forecast that Boston Properties will post 6.23 EPS for the current year.
In other Boston Properties news, insider Bryan J. Koop sold 5,868 shares of Boston Properties 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 completion of the sale, the insider now owns 585 shares in the company, valued at approximately $72,861.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.17% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BXP. Amica Retiree Medical Trust purchased a new stake in Boston Properties in the 3rd quarter valued at about $105,000. NewSquare Capital LLC grew its holdings in Boston Properties by 12,184.0% in the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 121,840 shares during the period. Fieldpoint Private Securities LLC purchased a new stake in Boston Properties in the 3rd quarter valued at about $125,000. Sun Life Financial INC lifted its stake in shares of Boston Properties by 10,118.2% in the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of Boston Properties in the 3rd quarter valued at about $169,000. Institutional investors own 95.34% of the company’s stock.
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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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