Boston Properties (BXP) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets downgraded shares of Boston Properties (NYSE:BXP) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday. They currently have $134.00 price objective on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

Other equities research analysts have also issued reports about the company. Jefferies Group reaffirmed a hold rating and set a $124.00 target price on shares of Boston Properties in a research report on Tuesday, October 24th. KeyCorp reaffirmed a hold rating on shares of Boston Properties in a research report on Friday, November 3rd. Argus decreased their target price on Boston Properties to $140.00 and set a buy rating for the company in a research report on Thursday, November 16th. Royal Bank of Canada set a $140.00 price target on Boston Properties and gave the company a buy rating in a report on Monday, November 27th. Finally, SunTrust Banks reiterated a hold rating and issued a $130.00 price target on shares of Boston Properties in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Boston Properties currently has a consensus rating of Hold and a consensus price target of $131.00.

Shares of Boston Properties (NYSE:BXP) traded down $1.53 during midday trading on Tuesday, reaching $122.33. The company’s stock had a trading volume of 637,036 shares, compared to its average volume of 824,556. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. The company has a market cap of $19,114.36, a price-to-earnings ratio of 38.23, a PEG ratio of 3.48 and a beta of 0.63. Boston Properties has a 1-year low of $116.77 and a 1-year high of $140.13.

Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.03. The business had revenue of $657.70 million during the quarter, compared to analyst estimates of $649.84 million. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. Boston Properties’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. equities research analysts anticipate that Boston Properties will post 6.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be issued a $0.80 dividend. The ex-dividend date is Thursday, December 28th. This is an increase from Boston Properties’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.62%. Boston Properties’s dividend payout ratio (DPR) is currently 100.00%.

In other news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total value of $730,859.40. Following the transaction, the insider now directly owns 585 shares in the company, valued at approximately $72,861.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.17% of the company’s stock.

A number of hedge funds have recently made changes to their positions in BXP. Amica Retiree Medical Trust purchased a new position in Boston Properties during the 3rd quarter worth $105,000. NewSquare Capital LLC grew its stake in Boston Properties by 12,184.0% during the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 121,840 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Boston Properties during the 3rd quarter worth $125,000. Sun Life Financial INC grew its stake in Boston Properties by 10,118.2% during the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 1,113 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in Boston Properties during the 3rd quarter worth $169,000. Hedge funds and other institutional investors own 95.22% 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.

Analyst Recommendations for Boston Properties (NYSE:BXP)

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