Boston Properties Receives a Buy from Barclays

By Ryan Adsit

Barclays analyst Ross L Smotrich reiterated a Buy rating on Boston Properties (NYSE: BXP) yesterday and set a price target of $143. The company’s shares opened today at $123.17.

According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 8.8% and a 65.7% success rate. Smotrich covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate Investment, Newcastle Investment Corp., and General Growth Properties.

Currently, the analyst consensus on Boston Properties is Moderate Buy and the average price target is $131.50, representing a 6.8% upside.

In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $136 price target.

Based on Boston Properties’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $625 million and quarterly net profit of $79.34 million. In comparison, last year the company earned revenue of $628 million and had a net profit of $187 million.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Peter D. Johnston, the SVP of BXP sold 7,111 shares for a total of $1,018,580.

Boston Properties, Inc. is a self-administered and self-managed real estate investment trust. It engages in the acquisition, development, financing, capital markets, construction management, property management, marketing, leasing, accounting, tax and legal services. Its property portfolio is comprised primarily of first-class office space, hotel, residential properties and retail properties which are concentrated in five markets: Boston, New York, Princeton, San Francisco and Washington, DC. The company was founded by Mortimer Benjamin Zuckerman and Edward H. Linde in 1970 and is headquartered in Boston, MA.