FBR Capital Maintains an 'Outperform' on Boston Properties (BXP); Updating Estimates on 250 W. 55th Re-start
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Price: $68.45 -1.06%
Rating Summary:
20 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains an 'Outperform' on Boston Properties Inc. (NYSE: BXP), PT increased from $111 to $114.
FBR analyst says, "We are maintaining our rating on shares of BXP and raising our 12-month price target to $114.00 following the restart of the 250 West 55th development project. Our forward FFO per share estimates for 2011–2014 are being raised due to the capitalization of interest on the 250 West 55th project contributing an annual run-rate of $0.10–0.15 per share, and we are adjusting our NAV per share estimate to $90.00 from $87.50, as we have lowered the applied cap rate utilized in our NAV estimate to 5.7% from 5.8%, while our unlevered IRR hurdle of 8.5% remains unchanged."
"We are revising our 2011, 2012, 2013, and 2014 FFO per share estimates to $4.54, $4.85, $5.21, and $5.65 from $4.51, $4.77, $5.07, and $5.48, respectively."
For more ratings news on Boston Properties Inc. click here and for the rating history of Boston Properties Inc. click here.
Shares of Boston Properties Inc. closed at $104.98 yesterday.
FBR analyst says, "We are maintaining our rating on shares of BXP and raising our 12-month price target to $114.00 following the restart of the 250 West 55th development project. Our forward FFO per share estimates for 2011–2014 are being raised due to the capitalization of interest on the 250 West 55th project contributing an annual run-rate of $0.10–0.15 per share, and we are adjusting our NAV per share estimate to $90.00 from $87.50, as we have lowered the applied cap rate utilized in our NAV estimate to 5.7% from 5.8%, while our unlevered IRR hurdle of 8.5% remains unchanged."
"We are revising our 2011, 2012, 2013, and 2014 FFO per share estimates to $4.54, $4.85, $5.21, and $5.65 from $4.51, $4.77, $5.07, and $5.48, respectively."
For more ratings news on Boston Properties Inc. click here and for the rating history of Boston Properties Inc. click here.
Shares of Boston Properties Inc. closed at $104.98 yesterday.
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