Zacks Investment Research Lowers Boston Properties (BXP) to Hold

Zacks Investment Research lowered shares of Boston Properties (NYSE:BXP) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Shares of Boston Properties have outperformed its industry over the past six months. Further, the trend in 2018 funds from operations (FFO) per share estimate revisions indicates a favorable outlook for the company. Notably, Boston Properties’ Class A office assets located in top-tier gateway cities along with a diversified tenant and industry base will likely drive its long-term growth. Also, efforts to reposition its portfolio through accretive acquisitions and monetizing of non-core assets is anticipated to benefit the company in the long-term. Nonetheless, increase in supply of office space is expected to affect its pricing power. Additionally, geographic concentration of the company’s assets makes it susceptible to economic downturns in these regions. Further, rising interest rates remains a concern.”

Other research analysts have also issued reports about the stock. Jefferies Financial Group upgraded shares of Boston Properties from a hold rating to a buy rating and set a $139.00 target price on the stock in a research report on Monday, October 15th. Barclays reaffirmed a buy rating and issued a $125.00 price target on shares of Boston Properties in a report on Sunday, October 14th. DA Davidson raised shares of Boston Properties from a neutral rating to a buy rating and upped their price target for the company from $135.00 to $145.00 in a report on Monday, November 19th. SunTrust Banks reduced their price target on shares of Boston Properties from $137.00 to $135.00 and set a hold rating on the stock in a report on Sunday, November 25th. Finally, JPMorgan Chase & Co. raised shares of Boston Properties from a neutral rating to an overweight rating in a report on Friday, October 5th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Boston Properties presently has a consensus rating of Hold and a consensus price target of $135.85.

Shares of BXP opened at $126.98 on Monday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.36. Boston Properties has a twelve month low of $111.57 and a twelve month high of $132.82. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 3.38 and a beta of 0.60.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Boston Properties had a net margin of 20.18% and a return on equity of 6.75%. The company had revenue of $686.28 million for the quarter, compared to analyst estimates of $674.30 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Boston Properties will post 6.39 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in BXP. TLP Group LLC purchased a new position in shares of Boston Properties during the third quarter valued at approximately $104,000. Matthew Goff Investment Advisor LLC purchased a new position in shares of Boston Properties during the third quarter valued at approximately $108,000. Checchi Capital Advisers LLC purchased a new position in shares of Boston Properties during the third quarter valued at approximately $202,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Boston Properties during the third quarter valued at approximately $209,000. Finally, Atria Investments LLC purchased a new position in shares of Boston Properties during the third quarter valued at approximately $226,000. 95.68% of the stock is currently owned by institutional investors.

Boston Properties Company Profile

Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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