Boston Properties Inc. (BXP) Reaches New 52-Week High at $134.38
Boston Properties Inc. (NYSE:BXP) shares reached a new 52-week high during trading on Monday . The stock traded as high as $134.38 and last traded at $134.28, with a volume of 188,247 shares. The stock had previously closed at $133.32.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research note on Wednesday, May 4th. Deutsche Bank AG lifted their price target on shares of Boston Properties from $145.00 to $151.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. Argus lifted their price target on shares of Boston Properties from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Stifel Nicolaus reissued a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Boston Properties in a research note on Thursday, April 28th. Finally, Citigroup Inc. lifted their price target on shares of Boston Properties from $127.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, May 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $141.58.
The stock has a market capitalization of $20.89 billion and a price-to-earnings ratio of 35.88. The company’s 50-day moving average is $128.62 and its 200 day moving average is $124.28.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.04. The firm had revenue of $665.99 million for the quarter, compared to analysts’ expectations of $644.49 million. During the same period last year, the company earned $1.30 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Boston Properties Inc. will post $5.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $2.60 annualized dividend and a dividend yield of 1.91%.
In other news, Director Karen E. Dykstra acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were acquired at an average cost of $126.48 per share, with a total value of $189,720.00. Following the acquisition, the director now directly owns 1,213 shares of the company’s stock, valued at $153,420.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joel Klein sold 910 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $126.28, for a total value of $114,914.80. The disclosure for this sale can be found here.
A number of hedge funds recently added to or reduced their stakes in the stock. Mizuho Trust & Banking Co. Ltd. raised its stake in Boston Properties by 3.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 256,301 shares of the company’s stock valued at $32,960,000 after buying an additional 7,996 shares during the last quarter. Vanguard Group Inc. raised its stake in Boston Properties by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 20,519,791 shares of the company’s stock valued at $2,617,095,000 after buying an additional 559,272 shares during the last quarter. Brown Advisory Inc. raised its stake in Boston Properties by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 9,893 shares of the company’s stock valued at $1,262,000 after buying an additional 274 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in Boston Properties during the fourth quarter valued at $4,014,000. Finally, OppenheimerFunds Inc. raised its stake in Boston Properties by 3.3% in the fourth quarter. OppenheimerFunds Inc. now owns 585,418 shares of the company’s stock valued at $74,666,000 after buying an additional 18,786 shares during the last quarter.
Boston Properties, Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston, New York, San Francisco and Washington, DC.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.