Boston Properties Inc. (BXP) Reaches New 12-Month High at $142.97
Boston Properties Inc. (NYSE:BXP) shares reached a new 52-week high on Monday . The stock traded as high as $142.97 and last traded at $142.52, with a volume of 247,105 shares traded. The stock had previously closed at $142.11.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research report on Wednesday, May 4th. Deutsche Bank AG upped their price target on shares of Boston Properties from $145.00 to $151.00 and gave the stock a “buy” rating in a research report on Monday, May 2nd. Argus upped their price target on shares of Boston Properties from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Boston Properties in a report on Thursday, April 28th. Finally, Citigroup Inc. increased their price objective on shares of Boston Properties from $127.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, May 4th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $142.31.
The firm has a market capitalization of $21.95 billion and a P/E ratio of 36.63. The company’s 50-day moving average is $134.79 and its 200 day moving average is $126.16.
Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.04. The business earned $623.50 million during the quarter, compared to analysts’ expectations of $612.38 million. During the same period last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Boston Properties Inc. will post $5.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, June 28th.
In other Boston Properties news, insider Frank D. Burt sold 4,573 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $142.26, for a total value of $650,554.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joel Klein sold 910 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $126.28, for a total transaction of $114,914.80. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in BXP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake 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 valued at $1,280,000 after buying an additional 167 shares during the period. KBC Group NV raised its position in Boston Properties by 17.9% in the fourth quarter. KBC Group NV now owns 155,192 shares of the company’s stock worth $19,793,000 after buying an additional 23,579 shares in the last quarter. Utah Retirement Systems raised its position in Boston Properties by 0.6% in the fourth quarter. Utah Retirement Systems now owns 33,937 shares of the company’s stock worth $4,328,000 after buying an additional 200 shares in the last quarter. American International Group Inc. raised its position in Boston Properties by 4.5% in the fourth quarter. American International Group Inc. now owns 59,054 shares of the company’s stock worth $7,532,000 after buying an additional 2,558 shares in the last quarter. Finally, BlackRock Advisors LLC raised its position in Boston Properties by 193.3% in the fourth quarter. BlackRock Advisors LLC now owns 311,932 shares of the company’s stock worth $39,784,000 after buying an additional 205,571 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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