Boston Properties, Inc. (NYSE:BXP) – SunTrust Banks raised their FY2017 earnings estimates for shares of Boston Properties in a research report issued to clients and investors on Friday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $6.27 per share for the year, up from their prior estimate of $6.26. SunTrust Banks has a “Hold” rating and a $130.00 price objective on the stock. SunTrust Banks also issued estimates for Boston Properties’ Q4 2017 earnings at $1.55 EPS, Q1 2018 earnings at $1.54 EPS, Q2 2018 earnings at $1.61 EPS, Q3 2018 earnings at $1.62 EPS, Q4 2018 earnings at $1.63 EPS, FY2018 earnings at $6.41 EPS, FY2019 earnings at $6.97 EPS and FY2020 earnings at $7.52 EPS.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada set a $140.00 target price on Boston Properties and gave the company a “buy” rating in a report on Monday, November 27th. Argus reduced their target price on Boston Properties to $140.00 and set a “buy” rating for the company in a report on Thursday, November 16th. KeyCorp reissued a “hold” rating on shares of Boston Properties in a report on Wednesday, October 4th. Mizuho reissued a “hold” rating and set a $122.00 price objective on shares of Boston Properties in a report on Friday, November 3rd. Finally, Jefferies Group reissued a “hold” rating and set a $124.00 price objective on shares of Boston Properties in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $133.73.
Boston Properties (NYSE:BXP) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.03. The business had revenue of $657.70 million during the quarter, compared to analyst estimates of $649.84 million. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS.
A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in Boston Properties by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 240,004 shares of the real estate investment trust’s stock worth $29,492,000 after buying an additional 3,884 shares during the last quarter. Davis Selected Advisers lifted its position in Boston Properties by 63.5% in the 3rd quarter. Davis Selected Advisers now owns 121,572 shares of the real estate investment trust’s stock worth $14,939,000 after buying an additional 47,238 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Boston Properties in the 3rd quarter worth approximately $169,000. IFM Investors Pty Ltd bought a new stake in Boston Properties in the 3rd quarter worth approximately $581,000. Finally, Fieldpoint Private Securities LLC bought a new stake in Boston Properties in the 3rd quarter worth approximately $125,000. Institutional investors own 95.58% of the company’s stock.
In other news, insider Bryan J. Koop sold 5,868 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the completion of the transaction, the insider now owns 585 shares of the company’s stock, valued at $72,861.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by insiders.
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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