Boston Properties (BXP) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Boston Properties (NYSE:BXP) from a hold rating to a buy rating in a research report released on Wednesday. The brokerage currently has $142.00 price objective on the real estate investment trust’s stock.

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. 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. Further, recovery in the economy and job market is expected to boost demand for the company’s office properties. Nonetheless, geographic concentration of its assets and rising interest rates remain concerns.”

Other research analysts have also issued research reports about the company. Barclays reissued a buy rating and set a $134.00 price objective on shares of Boston Properties in a report on Tuesday, August 21st. Jefferies Financial Group raised Boston Properties from a hold rating to a buy rating and set a $139.00 target price on the stock in a report on Monday, October 15th. SunTrust Banks raised their target price on Boston Properties to $137.00 and gave the company a hold rating in a report on Monday, August 20th. Scotiabank assumed coverage on Boston Properties in a report on Tuesday, October 16th. They issued a sector perform rating on the stock. Finally, DA Davidson raised Boston Properties from a neutral rating to a buy rating and raised their target price for the company from $135.00 to $145.00 in a report on Monday, November 19th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $135.46.

Shares of NYSE BXP opened at $125.74 on Wednesday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.36. The stock has a market cap of $19.42 billion, a PE ratio of 20.28, a P/E/G ratio of 3.16 and a beta of 0.61. Boston Properties has a 52 week low of $111.57 and a 52 week high of $132.82.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.05. The business had revenue of $686.28 million for the quarter, compared to analyst estimates of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. Research analysts expect that Boston Properties will post 6.39 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXP. TLP Group LLC acquired a new stake in shares of Boston Properties during the 3rd quarter worth approximately $104,000. Checchi Capital Advisers LLC acquired a new stake in shares of Boston Properties during the 3rd quarter worth approximately $202,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Boston Properties during the 3rd quarter worth approximately $209,000. Atria Investments LLC acquired a new stake in shares of Boston Properties during the 3rd quarter worth approximately $226,000. Finally, MML Investors Services LLC acquired a new stake in shares of Boston Properties during the 3rd quarter worth approximately $235,000. 95.68% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Company Profile

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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