Boston Properties (BXP) Cut to “Market Perform” at BMO Capital Markets

Boston Properties (NYSE:BXP) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday. They currently have a $134.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 9.54% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other brokerages also recently issued reports on BXP. SunTrust Banks reiterated a “hold” rating and set a $130.00 price target on shares of Boston Properties in a research report on Monday, October 9th. Royal Bank of Canada set a $140.00 price target on Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Evercore ISI reiterated an “in-line” rating and set a $133.00 price target (up previously from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. Argus lowered their price target on Boston Properties to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 16th. Finally, Jefferies Group reiterated a “hold” rating and set a $124.00 price target on shares of Boston Properties in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $131.00.

Shares of Boston Properties (BXP) traded down $1.53 on Tuesday, hitting $122.33. The stock had a trading volume of 637,036 shares, compared to its average volume of 824,556. Boston Properties has a 1 year low of $116.77 and a 1 year high of $140.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $19,114.36, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 3.48 and a beta of 0.63.

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

In other news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction that occurred 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 owns 585 shares in the company, valued at $72,861.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.17% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Boston Properties by 2.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 53,106 shares of the real estate investment trust’s stock valued at $6,905,000 after acquiring an additional 1,490 shares in the last quarter. DnB Asset Management AS lifted its position in shares of Boston Properties by 5.7% in the fourth quarter. DnB Asset Management AS now owns 16,640 shares of the real estate investment trust’s stock valued at $2,164,000 after acquiring an additional 900 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Boston Properties by 15.2% in the third quarter. Parametric Portfolio Associates LLC now owns 271,919 shares of the real estate investment trust’s stock valued at $33,413,000 after acquiring an additional 35,776 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Boston Properties by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 240,004 shares of the real estate investment trust’s stock valued at $29,492,000 after acquiring an additional 3,884 shares in the last quarter. Finally, Davis Selected Advisers lifted its position in shares of Boston Properties by 63.5% in the third quarter. Davis Selected Advisers now owns 121,572 shares of the real estate investment trust’s stock valued at $14,939,000 after acquiring an additional 47,238 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.

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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.

Analyst Recommendations for Boston Properties (NYSE:BXP)

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