Boston Properties (NYSE:BXP) PT Lowered to $131.00

Boston Properties (NYSE:BXP) had its price target reduced by stock analysts at Citigroup from $142.00 to $131.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price objective suggests a potential upside of 4.05% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Boston Properties from $116.00 to $123.00 and gave the company an “underweight” rating in a report on Monday, June 17th. Zacks Investment Research cut shares of Boston Properties from a “buy” rating to a “hold” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Boston Properties currently has an average rating of “Hold” and a consensus price target of $136.96.

Shares of NYSE:BXP traded down $1.38 on Wednesday, reaching $125.90. The company’s stock had a trading volume of 2,384 shares, compared to its average volume of 690,539. The business has a 50-day moving average price of $130.46. Boston Properties has a 52-week low of $107.84 and a 52-week high of $140.35. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 1.51. The company has a market cap of $19.99 billion, a PE ratio of 19.99, a P/E/G ratio of 3.00 and a beta of 0.87.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.68). Boston Properties had a net margin of 18.96% and a return on equity of 6.80%. The business had revenue of $733.74 million during the quarter, compared to analysts’ expectations of $725.14 million. During the same period in the previous year, the company posted $0.83 earnings per share. Boston Properties’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts forecast that Boston Properties will post 7.03 earnings per share for the current year.

In related news, insider Bryan J. Koop sold 4,121 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $134.40, for a total transaction of $553,862.40. Following the completion of the transaction, the insider now directly owns 585 shares of the company’s stock, valued at $78,624. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.99% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BXP. Geode Capital Management LLC boosted its stake in Boston Properties by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 2,437,060 shares of the real estate investment trust’s stock valued at $273,894,000 after purchasing an additional 186,025 shares during the period. Louisiana State Employees Retirement System increased its stake in Boston Properties by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the real estate investment trust’s stock worth $1,098,000 after purchasing an additional 100 shares during the period. Retirement Systems of Alabama increased its stake in Boston Properties by 1.0% in the 1st quarter. Retirement Systems of Alabama now owns 71,946 shares of the real estate investment trust’s stock worth $9,632,000 after purchasing an additional 734 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Boston Properties in the 1st quarter worth approximately $599,000. Finally, Pennsylvania Trust Co purchased a new position in Boston Properties in the 1st quarter worth approximately $1,585,000. 90.69% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Boston Properties (NYSE:BXP)

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