Shares of Boston Properties, Inc. (NYSE:BXP) have received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $143.32.
Several research analysts recently commented on the stock. Morgan Stanley upgraded shares of Boston Properties from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $123.00 to $126.00 in a report on Tuesday, September 10th. They noted that the move was a valuation call. Robert W. Baird set a $152.00 price target on shares of Boston Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. Barclays reaffirmed a “buy” rating and issued a $149.00 price target on shares of Boston Properties in a research report on Sunday, October 13th. Argus reiterated a “buy” rating and issued a $150.00 price objective (up from $142.00) on shares of Boston Properties in a research note on Wednesday, November 13th. Finally, SunTrust Banks boosted their price objective on Boston Properties from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th.
In related news, EVP Raymond A. Ritchey sold 96,802 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $139.28, for a total value of $13,482,582.56. Also, EVP Bryan J. Koop sold 9,645 shares of Boston Properties stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $138.06, for a total value of $1,331,588.70. Following the sale, the executive vice president now directly owns 585 shares in the company, valued at $80,765.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,029 shares of company stock valued at $17,375,700. Insiders own 0.99% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BXP. Invesco Ltd. increased its position in shares of Boston Properties by 5,758.3% during the second quarter. Invesco Ltd. now owns 241,485,891 shares of the real estate investment trust’s stock valued at $31,151,683,000 after purchasing an additional 237,363,784 shares during the period. Nuveen Asset Management LLC increased its holdings in Boston Properties by 203.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,537,443 shares of the real estate investment trust’s stock valued at $456,331,000 after buying an additional 2,371,683 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Boston Properties by 26.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,801,201 shares of the real estate investment trust’s stock valued at $232,357,000 after buying an additional 372,110 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of Boston Properties by 110.2% in the 2nd quarter. AMP Capital Investors Ltd now owns 694,050 shares of the real estate investment trust’s stock valued at $88,858,000 after buying an additional 363,819 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Boston Properties by 215.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 413,504 shares of the real estate investment trust’s stock valued at $53,342,000 after buying an additional 282,448 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.
Shares of BXP stock traded down $2.32 during trading on Friday, reaching $137.29. The company had a trading volume of 652,900 shares, compared to its average volume of 685,374. The firm’s 50 day simple moving average is $137.07 and its two-hundred day simple moving average is $132.14. Boston Properties has a one year low of $107.84 and a one year high of $140.35. The company has a debt-to-equity ratio of 1.52, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market capitalization of $21.54 billion, a PE ratio of 21.79, a PEG ratio of 3.03 and a beta of 0.86.
Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Boston Properties had a return on equity of 6.70% and a net margin of 18.20%. The company had revenue of $743.55 million for the quarter, compared to the consensus estimate of $730.74 million. During the same quarter last year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts forecast that Boston Properties will post 6.99 earnings per share for the current year.
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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