Boston Properties (BXP) is Downgraded by BofA/Merrill to Neutral

Boston Properties (BXP) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on Boston Properties. Company shares were Reiterated by DA Davidson on Jul 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 145 from a previous price target of $140 .Company shares were Reiterated by Mizuho on Jul 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 131 from a previous price target of $125 .Boston Properties was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 25, 2016.

On the company’s financial health, Boston Properties reported $1.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.58. The company had revenue of $665.99 million for the quarter, compared to analysts expectations of $670.01 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.

Boston Properties closed down -1.27 points or -0.99% at $127.44 with 6,30,071 shares getting traded on Tuesday. Post opening the session at $128.5, the shares hit an intraday low of $127.09 and an intraday high of $129 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 18, 2016, John Francis Powers (Executive Vice President) purchased 7,272 shares at $26.00 per share price. According to the SEC, on Aug 18, 2016, Bryan J Koop (Executive Vice President) sold 5,280 shares at $142.31 per share price. On Aug 11, 2016, Peter D Johnston (Executive Vice President) sold 7,111 shares at $143.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Boston Properties Inc. is a fully integrated self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston New York San Francisco and Washington DC. The Company conducts all of its business through its subsidiary Boston Properties Limited Partnership. The Company considers office/technical properties to be properties that support office research and development laboratory and other technical uses. The Company is also engaged in providing resources in acquisitions development financing capital markets construction management property management marketing leasing accounting risk management tax and legal services.

Boston Properties

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