Boston Properties (BXP) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $1.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.58. The company posted revenue of $665.99 million in the period, 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.
Many Wall Street Analysts have commented on Boston Properties. Boston Properties was Downgraded by CapitalOne to ” Equal Weight” on Feb 26, 2016. Shares were Reiterated by Stifel on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 130 from a previous price target of $138 .
Boston Properties opened for trading at $128.49 and hit $129.46 on the upside on Friday, eventually ending the session at $129.4, with a gain of 1.17% or 1.5 points. The heightened volatility saw the trading volume jump to 4,16,096 shares. Company has a market cap of $19,875 M.
In a different news, on Jun 8, 2015, Raymond A Ritchey (Executive Vice President) sold 50,000 shares at $127.57 per share price. According to the SEC, on Jun 2, 2015, Martin Turchin (director) sold 1,003 shares at $131.51 per share price. On Jun 2, 2015, Michael E Labelle (SVP and CFO) sold 5,538 shares at $131.52 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.