According to Zacks, “Shares of Boston Properties slightly outperformed the Zacks categorized REIT – Equity Trust – Other industry over the past one month. With its properties located in select high-rent, high barrier-to entry geographic markets, diversified tenant and industry base, the company is well poised to grow. Further, the recent 15.4% hike in dividend announced by the company is encouraging for the shareholders. However, there is an escalation in supply of office space in the market and there is a trend of increased concessions in some of the markets. Further, several big companies are opting for resizing of their business and cost containment efforts, which is leading to a lesser demand for office space. In addition, hike in rate of interest remain a concern. Amid these, the funds from operations (FFO) per share estimates for fourth-quarter and full-year 2016 remained unchanged, over the past 30 days.”
BXP has been the topic of several other reports. Royal Bank Of Canada cut their target price on shares of Boston Properties from $155.00 to $150.00 and set an outperform rating on the stock in a research note on Thursday, October 27th. Bank of America Corporation lowered shares of Boston Properties from a buy rating to a neutral rating and set a $148.00 target price on the stock. in a research note on Friday, October 14th. Barclays PLC reissued a buy rating and set a $143.00 target price on shares of Boston Properties in a research note on Thursday, December 1st. TheStreet lowered shares of Boston Properties from a buy rating to a hold rating in a research note on Tuesday, October 25th. Finally, Stifel Nicolaus lowered shares of Boston Properties from a buy rating to a hold rating and cut their target price for the stock from $140.00 to $120.00 in a research note on Thursday, October 27th. They noted that the move was a valuation call. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $141.78.
Boston Properties (NYSE:BXP) traded down 1.25% on Tuesday, hitting $127.18. 565,058 shares of the stock traded hands. Boston Properties has a 52 week low of $107.28 and a 52 week high of $144.02. The firm has a market capitalization of $19.56 billion, a PE ratio of 39.62 and a beta of 0.62. The stock has a 50 day moving average of $125.97 and a 200 day moving average of $131.48.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The company had revenue of $625.23 million for the quarter, compared to the consensus estimate of $621.99 million. Boston Properties had a return on equity of 6.54% and a net margin of 19.83%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Equities research analysts anticipate that Boston Properties will post $2.71 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from Boston Properties’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, December 28th. Boston Properties’s payout ratio is presently 93.46%.
Several large investors have recently made changes to their positions in BXP. FMR LLC raised its stake in shares of Boston Properties by 11.6% in the second quarter. FMR LLC now owns 9,786,504 shares of the company’s stock worth $1,290,839,000 after buying an additional 1,019,047 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Boston Properties by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,803,044 shares of the company’s stock valued at $654,607,000 after buying an additional 175,718 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Boston Properties by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 3,849,342 shares of the company’s stock valued at $524,627,000 after buying an additional 133,567 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Boston Properties by 5.7% in the third quarter. Principal Financial Group Inc. now owns 3,059,122 shares of the company’s stock valued at $416,929,000 after buying an additional 163,916 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Boston Properties by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 3,056,080 shares of the company’s stock valued at $403,098,000 after buying an additional 96,586 shares during the last quarter. Hedge funds and other institutional investors own 94.40% 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. The Company’s segments by geographic area are Boston, New York, San Francisco and Washington, DC. The Company conducts its operations through Boston Properties Limited Partnership.
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