Boston Properties Inc. (BXP) Hits New 52-Week High at $142.97
Boston Properties Inc. (NYSE:BXP) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $142.97 and last traded at $142.52, with a volume of 247,105 shares trading hands. The stock had previously closed at $142.11.
BXP has been the topic of several recent research reports. Barclays PLC raised their target price on shares of Boston Properties from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, July 19th. Zacks Investment Research lowered shares of Boston Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Boston Properties in a research note on Thursday, April 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $152.00 target price (up previously from $151.00) on shares of Boston Properties in a research note on Monday, July 18th. Finally, DA Davidson raised their target price on shares of Boston Properties from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $142.31.
The firm has a 50-day moving average of $135.73 and a 200-day moving average of $126.65. The stock has a market cap of $22.07 billion and a price-to-earnings ratio of 36.83.
Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.04. The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate of $612.38 million. During the same period in the prior year, the company earned $1.36 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Boston Properties Inc. will post $5.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other Boston Properties news, Director Karen E. Dykstra bought 1,500 shares of the stock in a transaction on Tuesday, June 14th. The stock was purchased at an average price of $126.48 per share, with a total value of $189,720.00. Following the completion of the purchase, the director now owns 1,213 shares in the company, valued at $153,420.24. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joel Klein sold 910 shares of the business’s stock in a transaction dated 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.
Other hedge funds and institutional investors have modified their holdings of the company. American International Group Inc. increased its position in shares of Boston Properties by 4.5% in the fourth quarter. American International Group Inc. now owns 59,054 shares of the company’s stock valued at $7,532,000 after buying an additional 2,558 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Boston Properties by 193.3% in the fourth quarter. BlackRock Advisors LLC now owns 311,932 shares of the company’s stock valued at $39,784,000 after buying an additional 205,571 shares during the last quarter. Utah Retirement Systems increased its position in shares of Boston Properties by 0.6% in the fourth quarter. Utah Retirement Systems now owns 33,937 shares of the company’s stock valued at $4,328,000 after buying an additional 200 shares during the last quarter. KBC Group NV increased its position in shares of Boston Properties by 17.9% in the fourth quarter. KBC Group NV now owns 155,192 shares of the company’s stock valued at $19,793,000 after buying an additional 23,579 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Boston Properties by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,969,055 shares of the company’s stock valued at $251,136,000 after buying an additional 23,172 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.
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