Boston Properties Inc. (NYSE:BXP) was downgraded by equities research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report released on Friday, The Fly reports.
Several other analysts have also commented on the stock. BTIG Research began coverage on shares of Boston Properties in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Jefferies Group cut their target price on Boston Properties from $141.00 to $138.00 and set a “hold” rating on the stock in a research report on Monday, August 22nd. Evercore ISI lowered Boston Properties from a “buy” rating to a “hold” rating and boosted their target price for the company from $147.00 to $149.00 in a research report on Monday, August 22nd. JPMorgan Chase & Co. boosted their target price on Boston Properties from $133.00 to $144.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research raised Boston Properties from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research report on Thursday, August 4th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $144.91.
Shares of Boston Properties (NYSE:BXP) opened at 128.76 on Friday. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 33.02 and a beta of 0.64. The stock’s 50 day moving average price is $136.10 and its 200 day moving average price is $133.10. Boston Properties has a one year low of $107.28 and a one year high of $144.02.
Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.04. The firm had revenue of $623.50 million for the quarter, compared to analyst estimates of $612.38 million. Boston Properties had a net margin of 24.01% and a return on equity of 7.89%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 EPS. Analysts forecast that Boston Properties will post $5.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. Boston Properties’s dividend payout ratio (DPR) is presently 66.50%.
In related news, insider Peter D. Johnston sold 7,111 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $143.25, for a total value of $1,018,650.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank D. Burt sold 4,573 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $142.26, for a total transaction of $650,554.98. The disclosure for this sale can be found here. 6.17% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in BXP. Williams Jones & Associates LLC acquired a new stake in shares of Boston Properties during the first quarter worth approximately $102,000. Euclid Advisors LLC acquired a new stake in shares of Boston Properties during the second quarter worth approximately $138,000. Glenmede Trust Co. NA boosted its stake in shares of Boston Properties by 30.9% in the second quarter. Glenmede Trust Co. NA now owns 1,189 shares of the company’s stock worth $155,000 after buying an additional 281 shares during the last quarter. Zions Bancorporation boosted its stake in shares of Boston Properties by 2.7% in the first quarter. Zions Bancorporation now owns 1,424 shares of the company’s stock worth $181,000 after buying an additional 37 shares during the last quarter. Finally, Advisor Partners LLC acquired a new stake in shares of Boston Properties during the second quarter worth approximately $202,000. 95.57% of the stock is owned by hedge funds and other institutional investors.
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. The Company’s segments by geographic area are Boston, New York, San Francisco and Washington, DC. The Company conducts its operations through Boston Properties Limited Partnership.
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