Investors sold shares of Boston Properties, Inc. (NYSE:BXP) on strength during trading hours on Friday. $27.07 million flowed into the stock on the tick-up and $46.26 million flowed out of the stock on the tick-down, for a money net flow of $19.19 million out of the stock. Of all stocks tracked, Boston Properties had the 27th highest net out-flow for the day. Boston Properties traded up $1.86 for the day and closed at $126.92
Several research firms have recently issued reports on BXP. Evercore ISI reaffirmed an “in-line” rating and set a $133.00 price objective (up from $127.00) on shares of Boston Properties in a research report on Friday. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a research report on Wednesday. Barclays PLC reduced their price target on shares of Boston Properties from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, August 31st. Royal Bank Of Canada cut shares of Boston Properties from a “top pick” rating to an “outperform” rating and reduced their price target for the company from $150.00 to $140.00 in a research report on Thursday, August 17th. Finally, TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $134.55.
The firm has a market cap of $19.59 billion, a P/E ratio of 43.02 and a beta of 0.65. The company’s 50-day moving average price is $121.37 and its 200-day moving average price is $124.36.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. During the same period last year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Boston Properties, Inc. will post $2.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.36%. Boston Properties’s payout ratio is currently 102.04%.
Several institutional investors have recently bought and sold shares of BXP. Perpetual Ltd bought a new stake in Boston Properties in the 2nd quarter valued at about $1,058,000. Perigon Wealth Management LLC lifted its position in Boston Properties by 25.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,005 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 1,209 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Boston Properties by 6.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 430,334 shares of the real estate investment trust’s stock valued at $52,940,000 after purchasing an additional 27,759 shares during the last quarter. Toronto Dominion Bank lifted its position in Boston Properties by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 52,120 shares of the real estate investment trust’s stock valued at $6,410,000 after purchasing an additional 10,605 shares during the last quarter. Finally, Millie Capital Management LLC lifted its position in Boston Properties by 3.4% in the 2nd quarter. Millie Capital Management LLC now owns 4,473 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.
Boston Properties Company Profile
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.
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