Robert W. Baird Reaffirms “Hold” Rating for Boston Properties (BXP)
Boston Properties (NYSE:BXP)‘s stock had its “hold” rating reiterated by Robert W. Baird in a report issued on Tuesday. They currently have a $125.00 price target on the real estate investment trust’s stock. Robert W. Baird’s price objective would suggest a potential upside of 0.28% from the company’s current price.
Several other research firms have also recently commented on BXP. Jefferies Group reissued a “hold” rating and set a $124.00 target price on shares of Boston Properties in a research report on Tuesday, October 24th. SunTrust Banks reissued a “hold” rating and set a $130.00 target price on shares of Boston Properties in a research report on Monday, October 9th. BMO Capital Markets cut shares of Boston Properties from an “outperform” rating to a “market perform” rating and set a $134.00 target price on the stock. in a research report on Tuesday. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a report on Wednesday, October 4th. Finally, Royal Bank of Canada set a $140.00 price target on shares of Boston Properties and gave the stock a “buy” rating in a report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Boston Properties currently has an average rating of “Hold” and a consensus price target of $131.00.
Boston Properties (NYSE BXP) traded down $0.75 during trading on Tuesday, hitting $124.65. 582,600 shares of the company’s stock traded hands, compared to its average volume of 872,286. Boston Properties has a 1 year low of $116.77 and a 1 year high of $140.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $19,140.00, a PE ratio of 38.83, a P/E/G ratio of 3.60 and a beta of 0.63.
Boston Properties (NYSE:BXP) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.03. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The firm had revenue of $657.70 million for the quarter, compared to analysts’ expectations of $649.84 million. During the same quarter last year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. sell-side analysts expect that Boston Properties will post 6.25 EPS for the current fiscal year.
In related news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the sale, the insider now owns 585 shares of the company’s stock, valued at approximately $72,861.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in Boston Properties by 0.8% during the 3rd quarter. Swiss National Bank now owns 667,935 shares of the real estate investment trust’s stock valued at $82,076,000 after acquiring an additional 5,300 shares during the period. BT Investment Management Ltd bought a new stake in Boston Properties during the 2nd quarter valued at $8,518,000. Teachers Advisors LLC raised its holdings in Boston Properties by 5.4% during the 2nd quarter. Teachers Advisors LLC now owns 1,251,924 shares of the real estate investment trust’s stock valued at $154,012,000 after acquiring an additional 64,326 shares during the period. Daiwa Securities Group Inc. raised its holdings in Boston Properties by 6.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,676 shares of the real estate investment trust’s stock valued at $3,401,000 after acquiring an additional 1,676 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Boston Properties by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,550 shares of the real estate investment trust’s stock valued at $1,542,000 after acquiring an additional 1,119 shares during the period. 95.22% of the stock is currently owned by institutional investors.
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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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