KeyCorp Comments on Boston Properties, Inc.’s Q1 2017 Earnings (BXP)

Boston Properties, Inc. (NYSE:BXP) – Analysts at KeyCorp issued their Q1 2017 earnings per share (EPS) estimates for Boston Properties in a research report issued to clients and investors on Thursday. KeyCorp analyst C. Mailman forecasts that the brokerage will post earnings per share of $1.53 for the quarter. KeyCorp has a “Overweight” rating on the stock. KeyCorp also issued estimates for Boston Properties’ Q2 2017 earnings at $1.60 EPS, Q3 2017 earnings at $1.55 EPS, Q4 2017 earnings at $1.54 EPS, FY2017 earnings at $6.22 EPS and FY2018 earnings at $6.74 EPS.

Several other equities research analysts also recently weighed in on BXP. TheStreet downgraded Boston Properties from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. Stifel Nicolaus downgraded Boston Properties from a “buy” rating to a “hold” rating and lowered their price target for the stock from $140.00 to $120.00 in a report on Thursday, October 27th. They noted that the move was a valuation call. Royal Bank Of Canada lowered their price target on Boston Properties from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. RBC Capital Markets reissued an “outperform” rating and issued a $150.00 price target (down previously from $155.00) on shares of Boston Properties in a report on Thursday, October 27th. Finally, Wells Fargo & Company set a $136.00 price target on Boston Properties and gave the stock a “buy” rating in a report on Wednesday, November 30th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $141.18.

Earnings History and Estimates for Boston Properties (NYSE:BXP)

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Shares of Boston Properties (NYSE:BXP) opened at 134.76 on Monday. Boston Properties has a 52 week low of $107.28 and a 52 week high of $144.02. The company has a 50-day moving average of $129.70 and a 200-day moving average of $130.76. The stock has a market capitalization of $20.72 billion, a P/E ratio of 41.46 and a beta of 0.62.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, January 31st. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. The business had revenue of $636.10 million for the quarter, compared to the consensus estimate of $621.13 million. Boston Properties had a net margin of 20.04% and a return on equity of 6.63%. Boston Properties’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share.

A number of hedge funds have recently modified their holdings of BXP. Bank of New York Mellon Corp raised its stake in shares of Boston Properties by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 3,056,080 shares of the company’s stock valued at $403,098,000 after buying an additional 96,586 shares during the last quarter. Ngam Advisors L.P. raised its stake in shares of Boston Properties by 5.2% in the second quarter. Ngam Advisors L.P. now owns 104,935 shares of the company’s stock valued at $13,841,000 after buying an additional 5,167 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Boston Properties by 1.6% in the second quarter. California State Teachers Retirement System now owns 331,992 shares of the company’s stock valued at $43,790,000 after buying an additional 5,246 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Boston Properties by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,978 shares of the company’s stock valued at $9,890,000 after buying an additional 6,253 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Boston Properties by 3.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,930 shares of the company’s stock valued at $6,322,000 after buying an additional 1,619 shares during the last quarter. 94.57% of the stock is currently owned by institutional investors.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 30th. Shareholders of record on Friday, December 30th were issued a $0.75 dividend. This is a positive change from Boston Properties’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, December 28th. Boston Properties’s dividend payout ratio (DPR) is presently 92.31%.

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. The Company’s segments by geographic area are Boston, New York, San Francisco and Washington, DC. The Company conducts its operations through Boston Properties Limited Partnership.

5 Day Chart for NYSE:BXP

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