FY2017 Earnings Estimate for Boston Properties, Inc. Issued By KeyCorp (BXP)
Boston Properties, Inc. (NYSE:BXP) – Equities research analysts at KeyCorp increased their FY2017 EPS estimates for Boston Properties in a research note issued to investors on Thursday. KeyCorp analyst C. Mailman now anticipates that the real estate investment trust will post earnings per share of $6.24 for the year, up from their previous estimate of $6.22. KeyCorp also issued estimates for Boston Properties’ FY2018 earnings at $6.40 EPS.
Other research analysts have also issued reports about the company. Royal Bank Of Canada lowered Boston Properties from a “top pick” rating to an “outperform” rating and lowered their price target for the company from $150.00 to $140.00 in a report on Thursday. BidaskClub raised Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $121.00 target price on shares of Boston Properties in a report on Friday, July 14th. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Boston Properties has a consensus rating of “Hold” and a consensus price target of $134.73.
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Boston Properties (NYSE:BXP) opened at 121.06 on Friday. The stock has a 50 day moving average of $121.18 and a 200-day moving average of $127.46. Boston Properties has a one year low of $113.69 and a one year high of $143.65. The firm has a market capitalization of $18.68 billion, a PE ratio of 41.04 and a beta of 0.64.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million during the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s payout ratio is 102.04%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Boston Properties by 2,333.7% in the first quarter. BlackRock Inc. now owns 14,650,487 shares of the real estate investment trust’s stock worth $1,939,871,000 after buying an additional 14,048,513 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Boston Properties by 45.5% in the first quarter. JPMorgan Chase & Co. now owns 3,942,489 shares of the real estate investment trust’s stock worth $522,026,000 after buying an additional 1,233,425 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock worth $2,939,641,000 after buying an additional 398,674 shares during the last quarter. American Century Companies Inc. increased its position in shares of Boston Properties by 45.7% in the first quarter. American Century Companies Inc. now owns 1,213,152 shares of the real estate investment trust’s stock worth $160,633,000 after buying an additional 380,500 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Boston Properties by 43.8% in the second quarter. APG Asset Management N.V. now owns 963,876 shares of the real estate investment trust’s stock worth $118,576,000 after buying an additional 293,526 shares during the last quarter. 93.80% of the stock is currently owned by institutional investors and hedge funds.
About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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