Bank of America upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. Bank of America currently has $145.00 price target on the real estate investment trust’s stock.
A number of other research analysts have also recently commented on the company. BMO Capital Markets set a $130.00 target price on Boston Properties and gave the company a hold rating in a research note on Monday, February 12th. Edward Jones upgraded Boston Properties from a hold rating to a buy rating in a research note on Monday, February 5th. Robert W. Baird reiterated a hold rating and set a $134.00 price objective on shares of Boston Properties in a research note on Wednesday, January 31st. Barclays lowered their price objective on Boston Properties from $135.00 to $131.00 and set an overweight rating for the company in a research note on Tuesday, January 30th. Finally, SunTrust Banks set a $127.00 price objective on Boston Properties and gave the company a hold rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $132.09.
Boston Properties (BXP) opened at $119.64 on Thursday. The company has a market capitalization of $18,460.00, a P/E ratio of 40.83, a PEG ratio of 3.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.43 and a quick ratio of 0.44. Boston Properties has a one year low of $111.57 and a one year high of $140.13.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th were paid a dividend of $0.80 per share. This is a boost from Boston Properties’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a yield of 2.67%. Boston Properties’s payout ratio is presently 109.22%.
A number of large investors have recently made changes to their positions in BXP. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Boston Properties by 2.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,246 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 400 shares in the last quarter. Advisor Partners LLC increased its holdings in shares of Boston Properties by 22.3% in the 4th quarter. Advisor Partners LLC now owns 2,353 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 429 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Boston Properties by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 110,961 shares of the real estate investment trust’s stock worth $14,428,000 after purchasing an additional 476 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Boston Properties by 19.2% in the 3rd quarter. FDx Advisors Inc. now owns 3,008 shares of the real estate investment trust’s stock worth $370,000 after purchasing an additional 484 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Boston Properties by 1.7% in the 3rd quarter. Stephens Inc. AR now owns 29,551 shares of the real estate investment trust’s stock worth $3,631,000 after purchasing an additional 489 shares in the last quarter. Institutional investors and hedge funds own 95.83% of the company’s stock.
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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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