Boston Properties (BXP) Stock Rating Upgraded by Robert W. Baird

Robert W. Baird upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to an outperform rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $142.00 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Boston Properties from a buy rating to a hold rating in a research note on Monday, December 10th. Jefferies Financial Group raised 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 note on Monday, October 15th. Scotiabank began coverage on shares of Boston Properties in a research note on Tuesday, October 16th. They set a sector perform rating on the stock. DA Davidson raised shares of 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 research note on Monday, November 19th. Finally, Barclays reaffirmed a buy rating and set a $125.00 target price on shares of Boston Properties in a research note on Sunday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $134.60.

BXP traded down $0.07 during trading hours on Tuesday, hitting $119.15. 431,857 shares of the company’s stock were exchanged, compared to its average volume of 761,638. Boston Properties has a 12-month low of $107.84 and a 12-month high of $132.82. The company has a market cap of $18.14 billion, a P/E ratio of 18.94, a PEG ratio of 2.74 and a beta of 0.74. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.36.

Boston Properties (NYSE:BXP) last announced 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 firm had revenue of $686.28 million for the quarter, compared to the consensus estimate of $674.30 million. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts forecast that Boston Properties will post 6.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Monday, December 31st will be given a $0.95 dividend. The ex-dividend date is Friday, December 28th. This is an increase from Boston Properties’s previous quarterly dividend of $0.80. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.19%.

Several large investors have recently made changes to their positions in the business. Resolution Capital Ltd increased its position in shares of Boston Properties by 317.1% in the 3rd quarter. Resolution Capital Ltd now owns 5,064,847 shares of the real estate investment trust’s stock valued at $79,619,000 after purchasing an additional 3,850,404 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Boston Properties by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock valued at $526,197,000 after purchasing an additional 326,351 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Boston Properties in the 3rd quarter valued at approximately $222,006,000. Deutsche Bank AG boosted its holdings in shares of Boston Properties by 86.4% in the 3rd quarter. Deutsche Bank AG now owns 1,798,412 shares of the real estate investment trust’s stock valued at $221,360,000 after buying an additional 833,693 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Boston Properties by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,626,051 shares of the real estate investment trust’s stock valued at $203,940,000 after buying an additional 44,264 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Boston Properties (NYSE:BXP)

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