Boston Properties (NYSE:BXP) had its price target reduced by stock analysts at SunTrust Banks from $137.00 to $135.00 in a report released on Sunday, The Fly reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks’ price target would indicate a potential upside of 7.44% from the company’s previous close. SunTrust Banks also issued estimates for Boston Properties’ Q4 2018 earnings at $1.68 EPS, FY2018 earnings at $6.39 EPS, FY2020 earnings at $7.13 EPS and FY2021 earnings at $7.46 EPS.
BXP has been the subject of a number of other research reports. Zacks Investment Research cut Boston Properties from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Stifel Nicolaus boosted their price objective on Boston Properties from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Barclays restated a “buy” rating and set a $134.00 price objective on shares of Boston Properties in a report on Tuesday, August 21st. TheStreet upgraded Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. Finally, DA Davidson upgraded Boston Properties from a “neutral” rating to a “buy” rating and upped their target price for the stock from $135.00 to $145.00 in a report on Monday, November 19th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.71.
BXP opened at $125.65 on Friday. Boston Properties has a 52-week low of $111.57 and a 52-week high of $132.82. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.74 and a quick ratio of 3.74. The firm has a market cap of $19.40 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 3.28 and a beta of 0.57.
Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.05. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The company had revenue of $686.28 million during the quarter, compared to analysts’ expectations of $674.30 million. During the same quarter in the previous year, the business earned $0.76 EPS. Boston Properties’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Boston Properties will post 6.39 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Boston Properties by 1.1% in the 2nd quarter. BlackRock Inc. now owns 15,893,856 shares of the real estate investment trust’s stock worth $1,993,407,000 after buying an additional 169,036 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Boston Properties by 14.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 8,333 shares of the real estate investment trust’s stock worth $1,026,000 after buying an additional 1,022 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Boston Properties in the 2nd quarter worth $4,049,000. First Hawaiian Bank purchased a new stake in shares of Boston Properties in the 3rd quarter worth $296,000. Finally, Atria Investments LLC purchased a new stake in shares of Boston Properties in the 3rd quarter worth $226,000. Institutional investors and hedge funds own 96.30% of the company’s stock.
About Boston Properties
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.
Featured Story: What is a capital gain?
Receive News & Ratings for Boston Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties and related companies with MarketBeat.com's FREE daily email newsletter.