Recent Analysts’ Ratings Changes for Boston Properties (BXP)

Several analysts have recently updated their ratings and price targets for Boston Properties (NYSE: BXP):

  • 12/3/2018 – Boston Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $147.00 price target on the stock. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past month. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. Notably, the company’s Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets are anticipated to benefit the company in the long-term. Nonetheless, geographic concentration of its assets and rising interest rates remain concerns.”
  • 11/30/2018 – Boston Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past year. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. In a bid to finance its green projects, the company recently priced senior unsecured notes worth $1 billion. Notably, Boston Properties’ Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets is anticipated to benefit the company in the long-term. Nonetheless, increase in supply of office space is expected to affect its pricing power. Additionally, geographic concentration and rising interest rates remain concerns.”
  • 11/26/2018 – Boston Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $141.00 price target on the stock. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past year. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. In a bid to finance its green projects, the company recently priced senior unsecured notes worth $1 billion. Notably, the company’s Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets are anticipated to benefit the company in the long-term. Nonetheless, geographic concentration of its assets and rising interest rates remain concerns.”
  • 11/25/2018 – Boston Properties had its price target lowered by analysts at SunTrust Banks, Inc. from $137.00 to $135.00. They now have a “hold” rating on the stock.
  • 11/22/2018 – Boston Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past six months. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. In a bid to finance its green projects, the company recently priced senior unsecured notes worth $1 billion. Notably, Boston Properties’ Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets is anticipated to benefit the company in the long-term. Nonetheless, increase in supply of office space is expected to affect its pricing power. Additionally, geographic concentration and rising interest rates remain concerns.”
  • 11/20/2018 – Boston Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $141.00 price target on the stock. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past year. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. In a bid to finance its green projects, the company recently priced senior unsecured notes worth $1 billion. Notably, the company’s Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets are anticipated to benefit the company in the long-term. Nonetheless, geographic concentration of its assets and rising interest rates remain concerns.”
  • 11/19/2018 – Boston Properties was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $145.00 price target on the stock, up previously from $135.00.
  • 11/16/2018 – Boston Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Boston Properties have outperformed its industry over the past month. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. In a bid to finance its green projects, the company recently priced senior unsecured notes worth $1 billion. Notably, the company’s Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets is anticipated to benefit the company in the long-term. Nonetheless, increase in supply of office space is expected to affect its pricing power. Additionally, geographic concentration and rising interest rates remain concerns.”
  • 10/16/2018 – Boston Properties is now covered by analysts at Scotiabank. They set a “sector perform” rating on the stock.
  • 10/15/2018 – Boston Properties was upgraded by analysts at Jefferies Financial Group Inc from a “hold” rating to a “buy” rating. They now have a $139.00 price target on the stock.
  • 10/14/2018 – Boston Properties had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $125.00 price target on the stock.
  • 10/5/2018 – Boston Properties was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating.

Shares of BXP stock traded down $0.10 during midday trading on Tuesday, hitting $132.10. The company had a trading volume of 24,205 shares, compared to its average volume of 695,530. Boston Properties, Inc. has a 52-week low of $111.57 and a 52-week high of $132.82. The company has a market capitalization of $20.26 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 3.43 and a beta of 0.60. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.36.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $686.28 million during the quarter, compared to analysts’ expectations of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. As a group, equities analysts predict that Boston Properties, Inc. will post 6.39 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of BXP. Resolution Capital Ltd lifted its holdings in shares of Boston Properties by 317.1% in the 3rd quarter. Resolution Capital Ltd now owns 5,064,847 shares of the real estate investment trust’s stock valued at $79,619,000 after buying an additional 3,850,404 shares during the period. Brookfield Asset Management Inc. acquired a new stake in shares of Boston Properties in the 3rd quarter valued at approximately $222,006,000. Deutsche Bank AG lifted its holdings in shares of Boston Properties by 86.4% in the 3rd quarter. Deutsche Bank AG now owns 1,798,412 shares of the real estate investment trust’s stock valued at $221,360,000 after buying an additional 833,693 shares during the period. Heitman Real Estate Securities LLC lifted its holdings in shares of Boston Properties by 418.3% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 583,675 shares of the real estate investment trust’s stock valued at $78,922,000 after buying an additional 471,065 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Boston Properties by 21.1% in the 2nd quarter. Centersquare Investment Management LLC now owns 2,540,552 shares of the real estate investment trust’s stock valued at $318,636,000 after buying an additional 443,338 shares during the period. 95.74% of the stock is owned by institutional investors and hedge funds.

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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