Citigroup reissued their neutral rating on shares of Boston Properties (NYSE:BXP) in a report published on Tuesday. The firm currently has a $134.00 price target on the real estate investment trust’s stock, up from their previous price target of $131.00.
Several other equities analysts have also weighed in on BXP. Deutsche Bank increased their price target on shares of Boston Properties from $145.00 to $148.00 and gave the company a hold rating in a research report on Thursday, October 10th. ValuEngine upgraded shares of Boston Properties from a sell rating to a hold rating in a research report on Thursday, October 31st. Barclays restated a buy rating and set a $149.00 price target on shares of Boston Properties in a research report on Sunday, October 13th. Robert W. Baird set a $152.00 price target on shares of Boston Properties and gave the company a buy rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley upgraded shares of Boston Properties from an underweight rating to an equal weight rating and increased their price target for the company from $123.00 to $126.00 in a research report on Tuesday, September 10th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Boston Properties has a consensus rating of Hold and a consensus target price of $142.54.
BXP traded up $0.38 during trading on Tuesday, hitting $138.34. 370,099 shares of the company traded hands, compared to its average volume of 707,870. The firm has a market cap of $21.07 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 3.04 and a beta of 0.86. The stock’s fifty day moving average is $131.12 and its 200 day moving average is $131.44. The company has a quick ratio of 4.58, a current ratio of 3.98 and a debt-to-equity ratio of 1.52. Boston Properties has a one year low of $107.84 and a one year high of $140.35.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $743.55 million during the quarter, compared to analyst estimates of $730.74 million. Boston Properties had a net margin of 18.20% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. On average, equities research analysts forecast that Boston Properties will post 6.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, September 27th. Boston Properties’s dividend payout ratio (DPR) is presently 60.32%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. Invesco Ltd. lifted its holdings in 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 last quarter. Nuveen Asset Management LLC lifted its holdings in Boston Properties by 203.4% during the second 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 purchasing an additional 2,371,683 shares during the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new stake in Boston Properties during the second quarter valued at about $53,918,000. Bank of New York Mellon Corp lifted its holdings in Boston Properties by 26.0% during the second 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 purchasing an additional 372,110 shares during the last quarter. Finally, AMP Capital Investors Ltd lifted its holdings in Boston Properties by 110.2% during the second quarter. AMP Capital Investors Ltd now owns 694,050 shares of the real estate investment trust’s stock valued at $88,858,000 after purchasing an additional 363,819 shares during the last quarter. 90.76% of the stock is currently owned by institutional investors and hedge funds.
Boston Properties Company Profile
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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