Boston Properties Inc. (NYSE:BXP) was downgraded by equities researchers at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $148.00 price target on the stock. Bank of America Corp.’s price target would suggest a potential upside of 16.99% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut shares of Boston Properties from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $145.00 in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Monday, June 20th. Mizuho increased their price target on shares of Boston Properties from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Jefferies Group decreased their price target on shares of Boston Properties from $141.00 to $138.00 and set a “hold” rating for the company in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Boston Properties from $133.00 to $144.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $145.08.
Boston Properties (NYSE:BXP) opened at 126.51 on Friday. The firm has a 50-day moving average of $135.35 and a 200-day moving average of $133.21. The stock has a market capitalization of $19.44 billion, a PE ratio of 32.44 and a beta of 0.64. Boston Properties has a 1-year low of $107.28 and a 1-year high of $144.02.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, July 26th. The company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.04. Boston Properties had a net margin of 24.01% and a return on equity of 7.89%. The firm earned $623.50 million during the quarter, compared to analysts’ expectations of $612.38 million. During the same period last year, the company posted $1.36 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts expect that Boston Properties will post $5.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, September 28th. Boston Properties’s dividend payout ratio is currently 66.50%.
In other news, Director Martin Turchin sold 1,504 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $140.31, for a total value of $211,026.24. Following the transaction, the director now owns 2,857 shares of the company’s stock, valued at $400,865.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank D. Burt sold 4,573 shares of the business’s stock in a transaction on Monday, August 1st. The stock was 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. Company insiders own 6.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Williams Jones & Associates LLC bought a new position in Boston Properties during the first quarter valued at approximately $102,000. Euclid Advisors LLC bought a new position in Boston Properties during the second quarter valued at approximately $138,000. Glenmede Trust Co. NA increased its position in Boston Properties by 30.9% in the second quarter. Glenmede Trust Co. NA now owns 1,189 shares of the company’s stock valued at $155,000 after buying an additional 281 shares during the period. Zions Bancorporation increased its position in Boston Properties by 2.7% in the first quarter. Zions Bancorporation now owns 1,424 shares of the company’s stock valued at $181,000 after buying an additional 37 shares during the period. Finally, Advisor Partners LLC bought a new position in Boston Properties during the second quarter valued at approximately $202,000. 95.55% of the stock is currently owned by hedge funds and other institutional investors.
Boston Properties Company Profile
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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