Boston Properties (NYSE:BXP) had its target price decreased by research analysts at Stifel Nicolaus from $115.00 to $110.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Stifel Nicolaus' price target would indicate a potential upside of 22.22% from the company's previous close.
BXP has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Boston Properties from $147.00 to $118.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 28th. Deutsche Bank reduced their price target on shares of Boston Properties from $158.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Citigroup reduced their price target on shares of Boston Properties from $146.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group cut shares of Boston Properties from a "buy" rating to a "hold" rating and set a $94.00 price target on the stock. in a research report on Thursday, April 16th. Finally, TheStreet cut shares of Boston Properties from a "b-" rating to a "c+" rating in a research report on Wednesday, March 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Boston Properties presently has an average rating of "Buy" and an average target price of $123.83.
Shares of NYSE:BXP opened at $90.00 on Tuesday. Boston Properties has a 1-year low of $71.57 and a 1-year high of $147.83. The firm's 50 day simple moving average is $88.23 and its two-hundred day simple moving average is $113.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.59 and a quick ratio of 5.59. The company has a market capitalization of $13.55 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.48 and a beta of 1.05.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $3.20 EPS for the quarter, topping the consensus estimate of $0.81 by $2.39. Boston Properties had a net margin of 30.83% and a return on equity of 11.64%. The firm had revenue of $752.60 million for the quarter, compared to the consensus estimate of $761.83 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company's quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Properties will post 7.15 earnings per share for the current fiscal year.
In other Boston Properties news, Director Bruce W. Duncan acquired 11,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average cost of $89.14 per share, with a total value of $980,540.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan J. Koop acquired 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $78.00 per share, with a total value of $156,000.00. Following the completion of the purchase, the executive vice president now owns 2,585 shares of the company's stock, valued at $201,630. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 18,000 shares of company stock valued at $1,513,890. 0.98% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Wealth Quarterback LLC purchased a new stake in shares of Boston Properties during the fourth quarter valued at about $10,112,110,000. BlackRock Inc. lifted its position in shares of Boston Properties by 6.7% during the first quarter. BlackRock Inc. now owns 16,060,750 shares of the real estate investment trust's stock valued at $1,481,284,000 after buying an additional 1,006,869 shares during the last quarter. Norges Bank purchased a new stake in shares of Boston Properties during the fourth quarter valued at about $1,797,357,000. Wellington Management Group LLP lifted its position in shares of Boston Properties by 26.6% during the first quarter. Wellington Management Group LLP now owns 8,258,216 shares of the real estate investment trust's stock valued at $761,654,000 after buying an additional 1,734,994 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Boston Properties by 8.9% during the first quarter. Invesco Ltd. now owns 6,386,832 shares of the real estate investment trust's stock valued at $589,057,000 after buying an additional 523,455 shares during the last quarter. 88.96% of the stock is owned by institutional investors.
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.
Featured Article: Percentage Gainers
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Buy and Hold Stocks to Add to Your Portfolio
“Set it and forget it” are words many investors don’t want to hear. Even the most venerable brokerage houses are encouraging their clients to actively trade so they can beat the market. Buy and hold is a relic, they say. It doesn’t reflect the reality of today.
In other words, “this time it’s different”.
As the ongoing volatility in the market shows you, it’s not different. It’s not even close to being different. The simple fact is that many active traders lose money by being too aggressive and too active for their own good.
And while it’s true that the market won’t always be this choppy, and certain stocks may be a great buy in months to come, right now investors are looking for safe harbors. One of the safest ways to invest is to find stocks that you can feel comfortable holding on to even in the worst of times. Frequently that can be because the stocks offer an attractive dividend. But sometimes, it’s also because they are in a market that is always in demand.
But that doesn’t mean you have to limit yourself to defensive stocks. You can find some quality buy-and-hold stocks that offer some attractive growth prospects.
View the "10 Buy and Hold Stocks to Add to Your Portfolio".