Boston Properties, Inc. (NYSE:BXP) was downgraded by investment analysts at Royal Bank Of Canada from a “top pick” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat reports. They presently have a $140.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $150.00. Royal Bank Of Canada’s target price suggests a potential upside of 16.83% from the company’s previous close.
Several other research firms also recently issued reports on BXP. BidaskClub upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Evercore ISI restated an “in-line” rating and set a $133.00 price objective (down previously from $138.00) on shares of Boston Properties in a report on Friday, April 28th. Barclays PLC upped their price objective on shares of Boston Properties from $139.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $127.00 price objective on shares of Boston Properties in a report on Thursday, June 22nd. Finally, TheStreet upgraded shares of Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $134.73.
Shares of Boston Properties (NYSE BXP) opened at 119.83 on Thursday. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 40.62 and a beta of 0.64. The stock has a 50 day moving average of $121.09 and a 200-day moving average of $127.39. Boston Properties has a 52 week low of $113.69 and a 52 week high of $143.65.
Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The business had revenue of $656.90 million during the quarter, compared to analyst estimates of $645.96 million. During the same period in the prior year, the firm posted $1.44 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that Boston Properties will post $2.78 EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Boston Properties by 56.6% in the first quarter. Toronto Dominion Bank now owns 41,515 shares of the real estate investment trust’s stock valued at $5,496,000 after buying an additional 14,998 shares during the period. Bank of Nova Scotia increased its position in shares of Boston Properties by 917.9% in the first quarter. Bank of Nova Scotia now owns 35,127 shares of the real estate investment trust’s stock valued at $4,651,000 after buying an additional 31,676 shares during the period. Vanguard Group Inc. increased its position in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock valued at $2,939,641,000 after buying an additional 398,674 shares during the period. Credit Suisse AG increased its position in shares of Boston Properties by 7.4% in the first quarter. Credit Suisse AG now owns 698,737 shares of the real estate investment trust’s stock valued at $92,519,000 after buying an additional 48,354 shares during the period. Finally, World Asset Management Inc increased its position in shares of Boston Properties by 10.5% in the first quarter. World Asset Management Inc now owns 18,086 shares of the real estate investment trust’s stock valued at $2,395,000 after buying an additional 1,725 shares during the period. Institutional investors own 93.80% of the company’s stock.
About Boston Properties
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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