Boston Properties, Inc. (NYSE:BXP) – Stock analysts at KeyCorp upped their FY2017 EPS estimates for shares of Boston Properties in a report issued on Wednesday. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will post earnings per share of $6.25 for the year, up from their prior estimate of $6.24. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Boston Properties’ Q4 2017 earnings at $1.52 EPS and Q1 2018 earnings at $1.53 EPS.
BXP has been the topic of several other reports. Mizuho reissued a “hold” rating and issued a $122.00 price objective on shares of Boston Properties in a report on Friday, November 3rd. SunTrust Banks reaffirmed a “hold” rating and issued a $130.00 price target on shares of Boston Properties in a research note on Monday, October 9th. Evercore ISI reaffirmed an “in-line” rating and issued a $133.00 price target (up from $127.00) on shares of Boston Properties in a research note on Friday, October 6th. Barclays lowered their price target on Boston Properties from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Finally, Royal Bank of Canada set a $140.00 price target on Boston Properties and gave the stock a “buy” rating in a research note on Monday, November 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $132.80.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 EPS for the quarter, beating the consensus estimate of $1.54 by $0.03. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The company had revenue of $657.70 million for the quarter, compared to analyst estimates of $649.84 million. During the same period last year, the company earned $1.42 earnings per share. Boston Properties’s quarterly revenue was up 5.2% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of BXP. American Century Companies Inc. raised its position in Boston Properties by 44.4% in the third quarter. American Century Companies Inc. now owns 1,420,314 shares of the real estate investment trust’s stock valued at $174,528,000 after purchasing an additional 436,901 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Boston Properties by 173.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,030 shares of the real estate investment trust’s stock valued at $76,326,000 after buying an additional 393,612 shares during the period. BlackRock Inc. raised its holdings in shares of Boston Properties by 2.4% in the 2nd quarter. BlackRock Inc. now owns 14,996,676 shares of the real estate investment trust’s stock valued at $1,844,893,000 after buying an additional 346,189 shares during the period. PGGM Investments raised its holdings in shares of Boston Properties by 15.7% in the 3rd quarter. PGGM Investments now owns 2,215,458 shares of the real estate investment trust’s stock valued at $272,235,000 after buying an additional 301,163 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Boston Properties by 55.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 671,288 shares of the real estate investment trust’s stock valued at $82,489,000 after buying an additional 239,453 shares during the period. Institutional investors own 95.22% of the company’s stock.
In other Boston Properties news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total value of $730,859.40. Following the sale, the insider now owns 585 shares in the company, valued at $72,861.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.17% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a yield of 2.52%. This is an increase from Boston Properties’s previous quarterly dividend of $0.75. Boston Properties’s payout ratio is currently 93.75%.
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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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