Boston Properties Inc. (BXP) Reaches New 52-Week High at $139.47
Boston Properties Inc. (NYSE:BXP) reached a new 52-week high during trading on Tuesday . The company traded as high as $139.47 and last traded at $138.58, with a volume of 291,992 shares trading hands. The stock had previously closed at $139.07.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Boston Properties from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research note on Wednesday, May 4th. Deutsche Bank AG increased their price target on Boston Properties from $145.00 to $151.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. Argus increased their price target on Boston Properties from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Stifel Nicolaus reiterated a “buy” rating and issued 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. increased their price target on Boston Properties from $127.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $142.42.
The company has a 50 day moving average of $131.40 and a 200-day moving average of $124.95. The company has a market cap of $21.33 billion and a PE ratio of 36.64.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, April 26th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. The company had revenue of $665.99 million for the quarter, compared to analyst estimates of $644.49 million. Boston Properties’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. On average, equities research analysts predict that Boston Properties Inc. will post $5.94 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, June 28th.
In other Boston Properties news, Director Joel Klein sold 910 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $126.28, for a total transaction of $114,914.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter D. Johnston sold 5,416 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $128.66, for a total value of $696,822.56. Following the transaction, the executive vice president now directly owns 21,193 shares in the company, valued at approximately $2,726,691.38. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of BXP. Tredje AP fonden raised its position in shares of Boston Properties by 3.9% in the fourth quarter. Tredje AP fonden now owns 9,528 shares of the company’s stock worth $1,233,000 after buying an additional 362 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Boston Properties by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 9,893 shares of the company’s stock worth $1,262,000 after buying an additional 274 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Boston Properties by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,034 shares of the company’s stock worth $1,280,000 after buying an additional 167 shares in the last quarter. BP PLC acquired a new position in shares of Boston Properties during the fourth quarter worth $2,168,000. Finally, Stephens Inc. AR raised its position in shares of Boston Properties by 17.6% in the fourth quarter. Stephens Inc. AR now owns 20,018 shares of the company’s stock worth $2,553,000 after buying an additional 3,001 shares in 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.
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