Boston Properties (BXP) Stock Rating Lowered by BMO Capital Markets
BMO Capital Markets cut shares of Boston Properties (NYSE:BXP) from an outperform rating to a market perform rating in a report published on Tuesday morning. BMO Capital Markets currently has $134.00 price objective on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently weighed in on BXP. KeyCorp reissued a hold rating on shares of Boston Properties in a report on Wednesday, October 4th. Evercore ISI reissued an in-line rating and issued a $133.00 price target (up previously from $127.00) on shares of Boston Properties in a report on Friday, October 6th. SunTrust Banks reissued a hold rating and issued a $130.00 price target on shares of Boston Properties in a report on Monday, October 9th. Jefferies Group reissued a hold rating and issued a $124.00 price target on shares of Boston Properties in a report on Tuesday, October 24th. Finally, Mizuho reissued a hold rating and issued a $122.00 price target on shares of Boston Properties in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $131.00.
Shares of Boston Properties (NYSE:BXP) traded down $1.53 during midday trading on Tuesday, reaching $122.33. The company’s stock had a trading volume of 637,036 shares, compared to its average volume of 824,556. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market capitalization of $19,114.36, a P/E ratio of 38.23, a PEG ratio of 3.48 and a beta of 0.63. Boston Properties has a fifty-two week low of $116.77 and a fifty-two week high of $140.13.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be issued a dividend of $0.80 per share. This is an increase from Boston Properties’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.62%. Boston Properties’s payout ratio is 100.00%.
In related news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the completion of the sale, the insider now owns 585 shares of the company’s stock, valued at $72,861.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Amica Retiree Medical Trust acquired a new stake in shares of Boston Properties during the third quarter worth about $105,000. NewSquare Capital LLC lifted its holdings in shares of Boston Properties by 12,184.0% during the third quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 121,840 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Boston Properties during the third quarter worth about $125,000. Sun Life Financial INC lifted its holdings in shares of Boston Properties by 10,118.2% during the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,113 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in Boston Properties in the third quarter valued at approximately $169,000. 95.22% of the stock is owned by hedge funds and other institutional investors.
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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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