Shares of Boston Properties, Inc. (NYSE:BXP) have been assigned a consensus rating of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $142.21.
A number of research firms recently commented on BXP. Morgan Stanley upgraded Boston Properties from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $123.00 to $126.00 in a research note on Tuesday, September 10th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and issued a $149.00 price target on shares of Boston Properties in a research note on Sunday, October 13th. Deutsche Bank lifted their price target on Boston Properties from $145.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Citigroup reiterated a “neutral” rating and issued a $134.00 price target (up from $131.00) on shares of Boston Properties in a research note on Tuesday, November 5th. Finally, Goldman Sachs Group began coverage on Boston Properties in a research note on Friday, November 8th. They issued a “buy” rating and a $156.00 price target for the company.
NYSE:BXP traded down $0.25 during mid-day trading on Monday, reaching $137.56. The stock had a trading volume of 246,446 shares, compared to its average volume of 649,936. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 2.97 and a beta of 0.86. Boston Properties has a 1-year low of $107.84 and a 1-year high of $140.35. The stock’s 50 day simple moving average is $132.02 and its two-hundred day simple moving average is $131.53. The company has a debt-to-equity ratio of 1.52, a current ratio of 3.98 and a quick ratio of 4.58.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The business had revenue of $743.55 million during the quarter, compared to the consensus estimate of $730.74 million. Boston Properties had a return on equity of 6.70% and a net margin of 18.20%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. Sell-side analysts anticipate that Boston Properties will post 6.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. Boston Properties’s dividend payout ratio is currently 60.32%.
In other Boston Properties news, EVP Peter D. Johnston sold 18,582 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $137.85, for a total value of $2,561,528.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BXP. Advisory Services Network LLC lifted its holdings in Boston Properties by 112.4% in the second quarter. Advisory Services Network LLC now owns 257 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 136 shares during the last quarter. Quest Capital Management Inc. ADV bought a new stake in shares of Boston Properties during the third quarter valued at approximately $37,000. Doyle Wealth Management bought a new stake in shares of Boston Properties during the second quarter valued at approximately $39,000. Usca Ria LLC bought a new stake in shares of Boston Properties during the third quarter valued at approximately $39,000. Finally, Parallel Advisors LLC raised its holdings in shares of Boston Properties by 170.9% during the third quarter. Parallel Advisors LLC now owns 317 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.
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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