Boston Properties (NYSE:BXP) was upgraded by equities researchers at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports. The firm currently has a $130.00 price objective on the real estate investment trust’s stock. BTIG Research’s target price would indicate a potential upside of 9.07% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Robert W. Baird raised shares of Boston Properties from a “neutral” rating to an “outperform” rating and set a $142.00 target price on the stock in a research report on Tuesday. Zacks Investment Research cut shares of Boston Properties from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Morgan Stanley lifted their price target on shares of Boston Properties from $118.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, December 17th. Finally, SunTrust Banks reduced their price target on shares of Boston Properties from $137.00 to $135.00 and set a “hold” rating on the stock in a research report on Sunday, November 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Boston Properties presently has an average rating of “Buy” and a consensus price target of $134.60.
Shares of NYSE BXP opened at $119.19 on Wednesday. The stock has a market cap of $18.14 billion, a PE ratio of 18.94, a PEG ratio of 2.74 and a beta of 0.74. Boston Properties has a 12 month low of $107.84 and a 12 month high of $132.82. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.36.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $686.28 million during the quarter, compared to the consensus estimate of $674.30 million. Boston Properties had a net margin of 20.18% and a return on equity of 6.75%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. On average, research analysts predict that Boston Properties will post 6.4 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in BXP. Moody National Bank Trust Division lifted its holdings in Boston Properties by 4.0% in the fourth quarter. Moody National Bank Trust Division now owns 3,368 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 128 shares during the period. Creative Planning lifted its holdings in Boston Properties by 7.7% in the third quarter. Creative Planning now owns 6,253 shares of the real estate investment trust’s stock worth $770,000 after purchasing an additional 447 shares during the period. Mackenzie Financial Corp lifted its holdings in Boston Properties by 22.9% in the third quarter. Mackenzie Financial Corp now owns 2,885 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 538 shares during the period. Hamel Associates Inc. lifted its holdings in Boston Properties by 3.2% in the third quarter. Hamel Associates Inc. now owns 17,875 shares of the real estate investment trust’s stock worth $2,200,000 after purchasing an additional 550 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Boston Properties by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 72,761 shares of the real estate investment trust’s stock worth $8,187,000 after purchasing an additional 676 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.
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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