SunTrust Banks, Inc. reiterated their hold rating on shares of Boston Properties, Inc. (NYSE:BXP) in a research report report published on Monday. The brokerage currently has a $130.00 price objective on the real estate investment trust’s stock.
Several other research firms have also recently commented on BXP. Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $127.00 target price on shares of Boston Properties in a research note on Thursday, June 22nd. Evercore ISI reissued an in-line rating and issued a $133.00 target price (up from $127.00) on shares of Boston Properties in a research note on Friday, October 6th. Royal Bank Of Canada reissued a buy rating and issued a $150.00 target price on shares of Boston Properties in a research note on Wednesday, July 5th. KeyCorp reissued a hold rating on shares of Boston Properties in a research note on Wednesday, October 4th. Finally, TheStreet raised Boston Properties from a c rating to a b- rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $134.17.
Boston Properties (NYSE:BXP) last released its 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. The company 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 2.34%. Boston Properties’s dividend payout ratio is presently 102.04%.
Hedge funds have recently bought and sold shares of the business. BT Investment Management Ltd bought a new position in Boston Properties during the second quarter worth about $8,518,000. Bank of Nova Scotia lifted its holdings in Boston Properties by 917.9% during the first quarter. Bank of Nova Scotia now owns 35,127 shares of the real estate investment trust’s stock worth $4,651,000 after acquiring an additional 31,676 shares in the last quarter. Eii Capital Management Inc. lifted its holdings in Boston Properties by 59.7% during the second quarter. Eii Capital Management Inc. now owns 31,000 shares of the real estate investment trust’s stock worth $3,814,000 after acquiring an additional 11,590 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Boston Properties by 1.8% during the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock worth $2,939,641,000 after acquiring an additional 398,674 shares in the last quarter. Finally, Credit Suisse AG lifted its holdings in Boston Properties by 7.4% during the first quarter. Credit Suisse AG now owns 698,737 shares of the real estate investment trust’s stock worth $92,519,000 after acquiring an additional 48,354 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.
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.
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