Boston Properties (NYSE:BXP) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Wednesday, The Fly reports. The firm currently has a $130.00 price objective on the real estate investment trust’s stock. BTIG Research’s target price suggests a potential upside of 9.07% from the company’s current price.
Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded Boston Properties from a “neutral” rating to an “overweight” rating in a research note on Friday, October 5th. Barclays reiterated a “buy” rating and set a $125.00 price objective on shares of Boston Properties in a research note on Sunday, October 14th. Jefferies Financial Group upgraded Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Monday, October 15th. Scotiabank initiated coverage on Boston Properties in a research note on Tuesday, October 16th. They set a “sector perform” rating for the company. Finally, Zacks Investment Research lowered Boston Properties from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $134.60.
Shares of BXP stock opened at $119.19 on Wednesday. The firm has a market capitalization of $18.14 billion, a P/E ratio of 18.94, a PEG ratio of 2.74 and a beta of 0.74. Boston Properties has a one year low of $107.84 and a one year high of $132.82. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.74 and a quick ratio of 3.74.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $686.28 million during the quarter, compared to analysts’ expectations of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. Boston Properties’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.76 earnings per share. As a group, sell-side analysts predict that Boston Properties will post 6.4 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of BXP. TLP Group LLC bought a new position in Boston Properties during the third quarter worth about $104,000. Matthew Goff Investment Advisor LLC bought a new position in shares of Boston Properties during the 3rd quarter valued at about $108,000. Checchi Capital Advisers LLC bought a new position in shares of Boston Properties during the 3rd quarter valued at about $202,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Boston Properties during the 3rd quarter valued at about $209,000. Finally, Atria Investments LLC bought a new position in shares of Boston Properties during the 3rd quarter valued at about $226,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.
Boston Properties Company Profile
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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