Bank of America Upgrades Boston Properties (BXP) to Buy

Boston Properties (NYSE:BXP) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $145.00 price objective on the real estate investment trust’s stock. Bank of America’s target price indicates a potential upside of 21.20% from the stock’s previous close.

A number of other research analysts have also commented on BXP. Jefferies Group reaffirmed a “hold” rating and issued a $124.00 price objective on shares of Boston Properties in a report on Tuesday, October 24th. Mizuho reaffirmed a “hold” rating and issued a $122.00 price objective on shares of Boston Properties in a report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a report on Friday, November 3rd. Argus decreased their price objective on Boston Properties to $140.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. Finally, Royal Bank of Canada set a $140.00 price objective on Boston Properties and gave the company a “buy” rating in a report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Boston Properties currently has an average rating of “Hold” and a consensus target price of $132.09.

Shares of Boston Properties (BXP) opened at $119.64 on Thursday. Boston Properties has a 12 month low of $111.57 and a 12 month high of $140.13. The company has a quick ratio of 0.44, a current ratio of 0.43 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $18,117.79, a price-to-earnings ratio of 40.83, a P/E/G ratio of 3.31 and a beta of 0.58.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.02. Boston Properties had a return on equity of 5.86% and a net margin of 17.67%. The firm had revenue of $655.23 million for the quarter, compared to analyst estimates of $654.36 million. During the same period in the prior year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts expect that Boston Properties will post 6.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Boston Properties by 2.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,246 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 400 shares in the last quarter. Advisor Partners LLC grew its holdings in shares of Boston Properties by 22.3% during the 4th quarter. Advisor Partners LLC now owns 2,353 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 429 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Boston Properties by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 110,961 shares of the real estate investment trust’s stock worth $14,428,000 after purchasing an additional 476 shares in the last quarter. FDx Advisors Inc. grew its holdings in shares of Boston Properties by 19.2% during the 3rd quarter. FDx Advisors Inc. now owns 3,008 shares of the real estate investment trust’s stock worth $370,000 after purchasing an additional 484 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Boston Properties by 1.7% during the 3rd quarter. Stephens Inc. AR now owns 29,551 shares of the real estate investment trust’s stock worth $3,631,000 after purchasing an additional 489 shares in the last quarter. 95.83% of the stock is currently owned by institutional investors.

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About Boston Properties

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.

Analyst Recommendations for Boston Properties (NYSE:BXP)

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