Boston Properties (BXP) Downgraded by BMO Capital Markets

Boston Properties (NYSE:BXP) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, January 9th. They presently have a $134.00 target price on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.28% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on BXP. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a research report on Friday, November 3rd. Evercore ISI reissued 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. Royal Bank of Canada set a $140.00 price objective on Boston Properties and gave the company a “buy” rating in a research report on Monday, November 27th. Mizuho reissued a “hold” rating and set a $122.00 price objective on shares of Boston Properties in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $124.00 price target on shares of Boston Properties in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $131.20.

Shares of Boston Properties (NYSE:BXP) opened at $119.34 on Tuesday. Boston Properties has a 1 year low of $116.77 and a 1 year high of $140.13. The company has a market capitalization of $18,417.18, a P/E ratio of 19.22, a P/E/G ratio of 3.37 and a beta of 0.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.43 and a quick ratio of 0.44.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.02. The company had revenue of $655.23 million for the quarter, compared to analysts’ expectations of $654.36 million. Boston Properties had a return on equity of 5.86% and a net margin of 17.67%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. equities analysts anticipate that Boston Properties will post 6.33 earnings per share for the current year.

In other 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 transaction, the insider now directly owns 585 shares in the company, valued at $72,861.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Amica Retiree Medical Trust bought a new position in shares of Boston Properties in the third quarter worth about $105,000. NewSquare Capital LLC increased its stake in Boston Properties by 12,184.0% during the third quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 121,840 shares during the period. Fieldpoint Private Securities LLC bought a new position in Boston Properties during the third quarter valued at about $125,000. Sun Life Financial INC increased its stake in Boston Properties by 10,118.2% during the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 1,113 shares during the period. Finally, Americafirst Capital Management LLC bought a new position in Boston Properties during the third quarter valued at about $169,000. Institutional investors and hedge funds own 95.87% 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.

Analyst Recommendations for Boston Properties (NYSE:BXP)

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