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.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Jefferies Financial Group reduced their price target on Boston Properties from $112.00 to $88.00 and set a "hold" rating for the company in a research report on Thursday, June 30th. Mizuho dropped their price objective on Boston Properties from $135.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, July 6th. StockNews.com upgraded Boston Properties from a "sell" rating to a "hold" rating in a research note on Friday, August 5th. Wells Fargo & Company dropped their price objective on Boston Properties from $143.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, July 1st. Finally, Morgan Stanley dropped their price objective on Boston Properties from $104.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.54.
Boston Properties Price Performance
Shares of BXP traded down $2.04 on Wednesday, hitting $87.79. The company's stock had a trading volume of 878,872 shares, compared to its average volume of 985,680. The company has a market capitalization of $13.76 billion, a PE ratio of 20.90, a PEG ratio of 2.07 and a beta of 1.11. The company has a debt-to-equity ratio of 1.71, a current ratio of 4.35 and a quick ratio of 4.35. Boston Properties has a fifty-two week low of $84.86 and a fifty-two week high of $133.11. The company has a 50 day moving average price of $89.86 and a 200 day moving average price of $109.06.
Boston Properties (NYSE:BXP - Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $1.72 EPS. On average, research analysts anticipate that Boston Properties will post 7.51 earnings per share for the current fiscal year.
Boston Properties Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Wednesday, June 29th. Boston Properties's payout ratio is 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 on Friday, August 12th. The shares were sold at an average price of $89.96, for a total transaction of $2,021,581.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company's stock.