BTIG Research upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to a buy rating in a research note published on Wednesday morning, The Fly reports. The firm currently has $130.00 price target on the real estate investment trust’s stock.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Boston Properties from a buy rating to a hold rating in a report on Monday, December 10th. 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 report on Monday, October 15th. Scotiabank assumed coverage on Boston Properties in a report on Tuesday, October 16th. They set a sector perform rating for the company. Robert W. Baird upgraded Boston Properties from a neutral rating to an outperform rating and set a $142.00 price objective for the company in a report on Tuesday. Finally, DA Davidson upgraded Boston Properties from a neutral rating to a buy rating and increased their price objective for the stock from $135.00 to $145.00 in a report on Monday, November 19th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $134.60.
Shares of NYSE:BXP traded up $1.80 on Wednesday, reaching $119.24. 38,981 shares of the company traded hands, compared to its average volume of 833,829. The company has a market capitalization of $17.22 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.74. Boston Properties has a fifty-two week low of $107.84 and a fifty-two week high of $132.82. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.74 and a current ratio of 3.74.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.05. The company had revenue of $686.28 million during the quarter, compared to analyst estimates of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, research analysts forecast that Boston Properties will post 6.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, December 28th. This is a boost from Boston Properties’s previous quarterly dividend of $0.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in shares of Boston Properties by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 72,761 shares of the real estate investment trust’s stock valued at $8,187,000 after buying an additional 676 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Boston Properties by 4.0% in the fourth quarter. Moody National Bank Trust Division now owns 3,368 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 128 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Boston Properties by 77.0% in the third quarter. Federated Investors Inc. PA now owns 3,553 shares of the real estate investment trust’s stock valued at $437,000 after buying an additional 1,546 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Boston Properties in the third quarter valued at about $443,000. Finally, Legal & General Group Plc lifted its stake in shares of Boston Properties by 0.7% in the third quarter. Legal & General Group Plc now owns 1,260,239 shares of the real estate investment trust’s stock valued at $155,123,000 after buying an additional 8,372 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.
About Boston Properties
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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