Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner 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. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.
Analyst Upgrades and Downgrades
Several brokerages recently commented on BXP. The Goldman Sachs Group cut their price objective on Boston Properties from $120.00 to $112.00 and set a "sell" rating for the company in a report on Wednesday, May 25th. Mizuho cut their price objective on Boston Properties from $135.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Boston Properties from $139.00 to $104.00 in a report on Wednesday, July 20th. Morgan Stanley cut their price target on Boston Properties from $104.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, July 19th. Finally, Wells Fargo & Company cut their price target on Boston Properties from $143.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $105.54.
Boston Properties Price Performance
NYSE:BXP opened at $89.83 on Wednesday. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $14.08 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.09 and a beta of 1.11. Boston Properties has a 12 month low of $84.86 and a 12 month high of $133.11. The business's 50-day moving average is $90.21 and its 200 day moving average is $109.22.
Boston Properties (NYSE:BXP - Get Rating) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.64. Boston Properties had a return on equity of 8.17% and a net margin of 22.04%. During the same period in the prior year, the company earned $1.72 EPS. On average, equities research analysts forecast that Boston Properties will post 7.51 earnings per share for the current fiscal year.
Boston Properties Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.36%. Boston Properties's dividend payout ratio is currently 93.33%.
Insider Buying and Selling at Boston Properties
In other Boston Properties news, EVP Raymond A. Ritchey sold 22,472 shares of the company's stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $89.96, for a total transaction of $2,021,581.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.09% of the company's stock.