Equities research analysts at Goldman Sachs Group assumed coverage on shares of Boston Properties (NYSE:BXP) in a note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $156.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price objective indicates a potential upside of 12.77% from the stock’s previous close.
Several other research firms have also recently commented on BXP. Deutsche Bank raised their target price on shares of Boston Properties from $145.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Citigroup restated a “neutral” rating and issued a $134.00 target price (up previously from $131.00) on shares of Boston Properties in a research note on Tuesday. Morgan Stanley upgraded shares of Boston Properties from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $123.00 to $126.00 in a research note on Tuesday, September 10th. They noted that the move was a valuation call. Robert W. Baird set a $152.00 target price on shares of Boston Properties and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays restated a “buy” rating and issued a $149.00 target price on shares of Boston Properties in a research note on Sunday, October 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Boston Properties has a consensus rating of “Hold” and a consensus price target of $142.54.
Boston Properties stock traded up $0.38 during midday trading on Friday, hitting $138.34. 370,099 shares of the company’s stock were exchanged, compared to its average volume of 707,870. Boston Properties has a 12-month low of $107.84 and a 12-month high of $140.35. The company has a debt-to-equity ratio of 1.52, a quick ratio of 4.58 and a current ratio of 3.98. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 3.04 and a beta of 0.86. The firm’s 50 day simple moving average is $131.12 and its 200 day simple moving average is $131.44.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Boston Properties had a net margin of 18.20% and a return on equity of 6.70%. The company had revenue of $743.55 million for the quarter, compared to the consensus estimate of $730.74 million. During the same period last year, the firm posted $1.64 EPS. Boston Properties’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Boston Properties will post 6.99 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC lifted its stake in shares of Boston Properties by 112.4% in the second quarter. Advisory Services Network LLC now owns 257 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 136 shares during the period. Quest Capital Management Inc. ADV acquired a new stake in shares of Boston Properties in the third quarter valued at about $37,000. Doyle Wealth Management acquired a new stake in shares of Boston Properties in the second quarter valued at about $39,000. Usca Ria LLC acquired a new stake in shares of Boston Properties in the third quarter valued at about $39,000. Finally, Parallel Advisors LLC lifted its stake in shares of Boston Properties by 170.9% in the third quarter. Parallel Advisors LLC now owns 317 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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