Boston Properties’ (BXP) “In-Line” Rating Reiterated at Evercore ISI
Boston Properties, Inc. (NYSE:BXP)‘s stock had its “in-line” rating restated by investment analysts at Evercore ISI in a note issued to investors on Friday. They presently have a $133.00 price target on the real estate investment trust’s stock, up from their prior price target of $127.00. Evercore ISI’s price objective would indicate a potential upside of 6.35% from the stock’s current price.
BXP has been the topic of several other research reports. Barclays PLC dropped their price target on Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a research note on Friday, September 1st. Zacks Investment Research downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $127.00 price target on shares of Boston Properties in a research note on Thursday, June 22nd. Finally, BidaskClub upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Boston Properties has an average rating of “Hold” and a consensus price target of $134.55.
Boston Properties (NYSE:BXP) traded up 1.28% during midday trading on Friday, hitting $126.66. The company had a trading volume of 822,470 shares. The stock has a 50 day moving average price of $121.37 and a 200-day moving average price of $124.36. Boston Properties has a 52 week low of $113.69 and a 52 week high of $140.13. The stock has a market capitalization of $19.55 billion, a PE ratio of 42.94 and a beta of 0.65.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. On average, equities analysts predict that Boston Properties will post $2.76 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC raised its holdings in Boston Properties by 10,118.2% in the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,113 shares during the period. Jane Street Group LLC acquired a new position in Boston Properties in the 1st quarter worth about $200,000. Garner Asset Management Corp acquired a new position in Boston Properties in the 2nd quarter worth about $214,000. Clinton Group Inc. acquired a new position in Boston Properties in the 2nd quarter worth about $236,000. Finally, MML Investors Services LLC raised its holdings in Boston Properties by 7.3% in the 2nd quarter. MML Investors Services LLC now owns 2,022 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 137 shares during the period. 94.59% of the stock is owned by institutional investors.
Boston Properties Company Profile
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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