Boston Properties, Inc. (BXP) Downgraded to Sell at BidaskClub
Boston Properties, Inc. (NYSE:BXP) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
A number of other research firms have also recently weighed in on BXP. Evercore ISI restated an “in-line” rating and set a $133.00 target price (down previously from $138.00) on shares of Boston Properties in a research note on Friday, April 28th. Barclays PLC boosted their price target on shares of Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $127.00 price target on shares of Boston Properties in a research note on Thursday, June 22nd. TheStreet cut shares of Boston Properties from a “b-” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $150.00 price target on shares of Boston Properties in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $138.69.
Shares of Boston Properties (BXP) traded up 0.13% during midday trading on Friday, hitting $120.13. The company had a trading volume of 472,653 shares. The firm has a market capitalization of $18.48 billion, a P/E ratio of 44.33 and a beta of 0.65. Boston Properties has a 1-year low of $113.69 and a 1-year high of $144.02. The stock has a 50 day moving average price of $123.14 and a 200 day moving average price of $129.11.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by $0.02. Boston Properties had a net margin of 16.94% and a return on equity of 5.54%. The firm had revenue of $632.23 million for the quarter, compared to analysts’ expectations of $637.34 million. During the same quarter last year, the firm posted $1.18 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Boston Properties will post $2.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, June 28th. Boston Properties’s dividend payout ratio is 111.11%.
Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Boston Properties by 1.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,550 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 15 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Boston Properties during the first quarter valued at about $200,000. Atria Investments LLC acquired a new stake in shares of Boston Properties during the first quarter valued at about $224,000. Raymond James Trust N.A. acquired a new stake in shares of Boston Properties during the first quarter valued at about $232,000. Finally, Advisor Partners LLC boosted its stake in shares of Boston Properties by 12.9% in the first quarter. Advisor Partners LLC now owns 2,204 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.
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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