Price Action Report: What’s Next for Boston Properties, Inc. After Today’s Gap Down?

Price Action Report: What's Next for Boston Properties, Inc. After Today's Gap Down?

The stock of Boston Properties, Inc. (NYSE:BXP) gapped down by $0.4 today and has $124.05 target or 7.00% below today’s $133.39 share price. The 9 months technical chart setup indicates high risk for the $20.60B company. The gap down was reported on Oct, 4 by Barchart.com. If the $124.05 price target is reached, the company will be worth $1.44 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.13% or $2.9 on October 3, hitting $133.39. Boston Properties, Inc. (NYSE:BXP) has risen 12.98% since March 1, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

Analysts await Boston Properties, Inc. (NYSE:BXP) to report earnings on November, 3. They expect $1.43 earnings per share, up 1.42% or $0.02 from last year’s $1.41 per share. BXP’s profit will be $220.84M for 23.32 P/E if the $1.43 EPS becomes a reality. After $1.43 actual earnings per share reported by Boston Properties, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Boston Properties, Inc. (NYSE:BXP) Ratings Coverage

Out of 18 analysts covering Boston Properties Inc. (NYSE:BXP), 9 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 50% are positive. Boston Properties Inc. has been the topic of 34 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Suntrust Robinson on Thursday, May 12 with “Neutral”. The rating was maintained by Credit Suisse on Monday, December 7 with “Outperform”. Capital One downgraded Boston Properties, Inc. (NYSE:BXP) on Friday, February 26 to “Equal Weight” rating. The stock has “Neutral” rating given by SunTrust on Thursday, September 3. The rating was maintained by Barclays Capital on Tuesday, July 19 with “Overweight”. The firm has “Buy” rating given on Tuesday, September 8 by Evercore. As per Thursday, August 11, the company rating was maintained by JP Morgan. BB&T Capital initiated Boston Properties, Inc. (NYSE:BXP) on Friday, November 13 with “Buy” rating. The stock of Boston Properties, Inc. (NYSE:BXP) has “Outperform” rating given on Tuesday, January 19 by Credit Suisse. The firm earned “Neutral” rating on Monday, September 21 by Mizuho.

According to Zacks Investment Research, “Boston Properties is a fully integrated, self-administered and self- managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class-A office, industrial and hotel properties. The Company is one of the largest owners and developers of Class-A office properties in the United States, concentrated in four core markets — Boston, Midtown Manhattan, Washington, DC and San Francisco.”

Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.12, from 1.14 in 2016Q1. The ratio worsened, as 33 funds sold all Boston Properties, Inc. shares owned while 153 reduced positions. 42 funds bought stakes while 148 increased positions. They now own 143.39 million shares or 3.47% less from 148.55 million shares in 2016Q1.
Ameritas Inv Partners Inc last reported 0.03% of its portfolio in the stock. Cibc Asset Mngmt holds 83,034 shares or 0.08% of its portfolio. Washington Tru Bank & Trust last reported 202 shares in the company. Amf Pensionsforsakring last reported 612,154 shares in the company. Mark Asset Management holds 0.12% or 2,991 shares in its portfolio. Moreover, Deere And has 0.05% invested in Boston Properties, Inc. (NYSE:BXP) for 6,911 shares. The Massachusetts-based American Incorporated has invested 0.24% in Boston Properties, Inc. (NYSE:BXP). Moreover, Westwood Mngmt Il has 0.17% invested in Boston Properties, Inc. (NYSE:BXP) for 6,600 shares. California Pub Employees Retirement System last reported 0.08% of its portfolio in the stock. Arizona State Retirement Sys holds 40,619 shares or 0.08% of its portfolio. Meiji Yasuda Life Co has 23,100 shares for 0.49% of their US portfolio. Moreover, Louisiana State Employees Retirement has 0.07% invested in Boston Properties, Inc. (NYSE:BXP) for 10,100 shares. Gideon Capital Advsr Inc reported 5,326 shares or 0.41% of all its holdings. Evercore Wealth Mngmt Limited Liability Company reported 3,058 shares or 0.02% of all its holdings. Fmr Ltd Company last reported 0.18% of its portfolio in the stock.

Insider Transactions: Since June 1, 2016, the stock had 1 buy, and 8 selling transactions for $8.93 million net activity. DYKSTRA KAREN E also bought $189,718 worth of Boston Properties, Inc. (NYSE:BXP) on Tuesday, June 14. Shares for $1.23 million were sold by POWERS JOHN FRANCIS. KLEIN JOEL also sold $114,914 worth of Boston Properties, Inc. (NYSE:BXP) on Wednesday, June 1. Another trade for 1,504 shares valued at $211,020 was sold by TURCHIN MARTIN. BURT FRANK D had sold 4,573 shares worth $650,561 on Monday, August 1. 5,280 shares with value of $751,397 were sold by KOOP BRYAN J on Wednesday, August 17. 35,000 Boston Properties, Inc. (NYSE:BXP) shares with value of $4.45 million were sold by RITCHEY RAYMOND A.

More important recent Boston Properties, Inc. (NYSE:BXP) news were published by: Bloomberg.com which released: “Boston Properties Said to Enter L.A. Market With Office Deal” on May 19, 2016, also Bloomberg.com published article titled: “Zuckerman to Step Down From Boston Properties’ Board Next Month”, Seekingalpha.com published: “Boston Properties, Inc. (NYSE:BXP) CEO Owen Thomas on Q1 2016 Results …” on April 27, 2016. More interesting news about Boston Properties, Inc. (NYSE:BXP) was released by: Nasdaq.com and their article: “Boston Properties Inc. Earnings Rise 6% In Q2” with publication date: July 26, 2016.

BXP Company Profile

Boston Properties, Inc., incorporated on March 24, 1997, is a real estate investment trust. The Firm is an owner and developer of office properties in the United States. The Company’s divisions by geographic area are Boston, New York, San Francisco and Washington, DC. The Firm conducts its activities through Boston Properties Limited Partnership. The Firm holds interests in approximately 170 commercial real estate properties, aggregating over 46.5 million net rentable square feet. The Company’s properties include approximately 160 office properties, a hotel, over five retail properties and approximately four residential properties.

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