Robert W. Baird reaffirmed their hold rating on shares of Boston Properties (NYSE:BXP) in a research report released on Tuesday, January 9th. Robert W. Baird currently has a $125.00 target price on the real estate investment trust’s stock.
Several other research firms have also commented on BXP. SunTrust Banks reissued a hold rating and issued a $130.00 price objective on shares of Boston Properties in a research note on Monday, October 9th. BMO Capital Markets cut shares of Boston Properties from an outperform rating to a market perform rating and set a $134.00 target price on the stock. in a report on Tuesday, January 9th. They noted that the move was a valuation call. Royal Bank of Canada set a $140.00 target price on shares of Boston Properties and gave the company a buy rating in a report on Monday, November 27th. Evercore ISI reaffirmed an in-line rating and issued a $133.00 target price (up previously from $127.00) on shares of Boston Properties in a report on Friday, October 6th. Finally, Argus reduced their target price on shares of Boston Properties to $140.00 and set a buy rating on the stock in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $130.30.
Shares of Boston Properties (NYSE:BXP) traded up $4.29 during mid-day trading on Tuesday, reaching $123.71. 2,001,102 shares of the company’s stock traded hands, compared to its average volume of 898,848. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $18,725.47, a price-to-earnings ratio of 38.66, a PEG ratio of 3.42 and a beta of 0.63. Boston Properties has a one year low of $116.77 and a one year high of $140.13.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, January 30th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.02. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The company had revenue of $655.23 million during the quarter, compared to analyst estimates of $654.36 million. During the same quarter last year, the firm posted $0.94 earnings per share. Boston Properties’s revenue was up 3.0% compared to the same quarter last year. sell-side analysts anticipate that Boston Properties will post 6.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Boston Properties’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, December 28th. Boston Properties’s payout ratio is presently 100.00%.
In other news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction 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 transaction, the insider now directly owns 585 shares of the company’s stock, valued at approximately $72,861.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.
Several institutional investors have recently made changes to their positions in BXP. PGGM Investments grew its position in Boston Properties by 33.2% in the 4th quarter. PGGM Investments now owns 2,950,000 shares of the real estate investment trust’s stock valued at $383,588,000 after buying an additional 734,542 shares during the last quarter. American Century Companies Inc. grew its position in Boston Properties by 44.4% in the 3rd quarter. American Century Companies Inc. now owns 1,420,314 shares of the real estate investment trust’s stock valued at $174,528,000 after buying an additional 436,901 shares during the last quarter. Ameriprise Financial Inc. grew its position in Boston Properties by 173.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,030 shares of the real estate investment trust’s stock valued at $76,326,000 after buying an additional 393,612 shares during the last quarter. BlackRock Inc. grew its position in Boston Properties by 2.4% in the 2nd quarter. BlackRock Inc. now owns 14,996,676 shares of the real estate investment trust’s stock valued at $1,844,893,000 after buying an additional 346,189 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Boston Properties by 55.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 671,288 shares of the real estate investment trust’s stock valued at $82,489,000 after buying an additional 239,453 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.
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Boston Properties Company Profile
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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