Boston Properties, Inc. (BXP) Price Target Cut to $135.00 by Analysts at Barclays PLC
Boston Properties, Inc. (NYSE:BXP) had its price target lowered by Barclays PLC from $137.00 to $135.00 in a research note released on Thursday. Barclays PLC currently has an overweight rating on the real estate investment trust’s stock.
Several other research analysts have also recently issued reports on the company. TheStreet cut Boston Properties from a b- rating to a c rating in a research report on Wednesday, May 17th. Jefferies Group LLC reissued a hold rating and issued a $121.00 target price on shares of Boston Properties in a report on Friday, July 14th. Royal Bank Of Canada reissued a buy rating and issued a $150.00 target price on shares of Boston Properties in a report on Wednesday, July 5th. BidaskClub raised Boston Properties from a sell rating to a hold rating in a report on Sunday, July 16th. Finally, Zacks Investment Research downgraded Boston Properties from a hold rating to a sell rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Boston Properties has an average rating of Hold and an average target price of $134.55.
Boston Properties (NYSE BXP) traded up 0.5234% during midday trading on Thursday, reaching $121.2312. The company’s stock had a trading volume of 188,870 shares. The stock’s 50-day moving average price is $120.99 and its 200 day moving average price is $126.69. Boston Properties has a 1-year low of $113.69 and a 1-year high of $143.65. The firm has a market capitalization of $18.71 billion, a PE ratio of 41.0953 and a beta of 0.64.
Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million during the quarter, compared to analysts’ expectations of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. Equities analysts anticipate that Boston Properties will post $2.78 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Harbour Capital Advisors LLC increased its stake in Boston Properties by 12,201.8% in the second quarter. Harbour Capital Advisors LLC now owns 13,532 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 13,422 shares in the last quarter. Sun Life Financial INC increased its stake in Boston Properties by 10,118.2% in the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,113 shares in the last quarter. Jane Street Group LLC bought a new stake in Boston Properties during the first quarter valued at approximately $200,000. Garner Asset Management Corp bought a new stake in Boston Properties during the second quarter valued at approximately $214,000. Finally, Clinton Group Inc. bought a new stake in Boston Properties during the second quarter valued at approximately $236,000. 94.74% of the stock is owned by hedge funds and other institutional investors.
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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