Boston Properties (NYSE:BXP) Coverage Initiated at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Boston Properties (NYSE:BXP) in a research report report published on Friday morning, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a buy rating and a $156.00 target price on the real estate investment trust’s stock.

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Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Boston Properties from a sell rating to a hold rating in a research report on Thursday, October 31st. Citigroup reissued a neutral rating and set a $134.00 price objective (up previously from $131.00) on shares of Boston Properties in a research report on Tuesday, November 5th. Robert W. Baird set a $152.00 price objective on shares of Boston Properties and gave the stock a buy rating in a research report on Wednesday, August 21st. Barclays reissued a buy rating and set a $149.00 price objective on shares of Boston Properties in a research report on Sunday, October 13th. Finally, Deutsche Bank increased their price objective on shares of Boston Properties from $145.00 to $148.00 and gave the stock a hold rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Boston Properties presently has an average rating of Hold and a consensus price target of $142.54.

Shares of BXP stock traded up $0.38 during trading hours on Friday, hitting $138.34. 366,073 shares of the company were exchanged, compared to its average volume of 707,870. The business has a 50 day moving average of $131.12 and a two-hundred day moving average of $131.44. The company has a current ratio of 3.98, a quick ratio of 4.58 and a debt-to-equity ratio of 1.52. Boston Properties has a 52 week low of $107.84 and a 52 week high of $140.35. The company has a market capitalization of $21.07 billion, a PE ratio of 21.96, a PEG ratio of 3.04 and a beta of 0.86.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Boston Properties had a net margin of 18.20% and a return on equity of 6.70%. The company had revenue of $743.55 million during the quarter, compared to the consensus estimate of $730.74 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Boston Properties will post 6.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, September 27th. Boston Properties’s dividend payout ratio (DPR) is currently 60.32%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC grew its position in Boston Properties by 406.5% in the third quarter. Rational Advisors LLC now owns 314 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 252 shares in the last quarter. SG Americas Securities LLC grew its position in Boston Properties by 80.3% in the third quarter. SG Americas Securities LLC now owns 158,868 shares of the real estate investment trust’s stock valued at $20,599,000 after purchasing an additional 70,748 shares in the last quarter. First Trust Advisors LP grew its position in Boston Properties by 0.5% in the third quarter. First Trust Advisors LP now owns 33,116 shares of the real estate investment trust’s stock valued at $4,294,000 after purchasing an additional 181 shares in the last quarter. Tibra Equities Europe Ltd bought a new position in Boston Properties in the third quarter valued at $3,345,000. Finally, Parallel Advisors LLC grew its position in Boston Properties by 170.9% in the third quarter. Parallel Advisors LLC now owns 317 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. 90.76% of the stock is owned by institutional investors and hedge funds.

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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