Boston Properties (NYSE:BXP) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Boston Properties (NYSE:BXP) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other research analysts have also issued reports on the stock. Wedbush dropped their price target on shares of Boston Properties from $66.00 to $63.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Evercore ISI cut their target price on Boston Properties from $73.00 to $69.00 and set an outperform rating for the company in a research note on Monday, May 6th. BMO Capital Markets decreased their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research note on Monday, April 8th. Truist Financial cut their price objective on Boston Properties from $75.00 to $67.00 and set a hold rating for the company in a research report on Friday, June 14th. Finally, Barclays reduced their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $68.93.

Boston Properties Stock Up 1.0 %

Boston Properties stock opened at $62.05 on Wednesday. The stock has a 50 day moving average of $60.80 and a two-hundred day moving average of $64.47. Boston Properties has a twelve month low of $50.64 and a twelve month high of $73.97. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 0.43 and a beta of 1.15. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. Boston Properties’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, research analysts expect that Boston Properties will post 7.05 earnings per share for the current year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Friday, June 28th. Boston Properties’s payout ratio is currently 321.31%.

Institutional Trading of Boston Properties

Several large investors have recently modified their holdings of BXP. International Assets Investment Management LLC acquired a new stake in Boston Properties during the 4th quarter valued at $15,810,000. Dark Forest Capital Management LP purchased a new stake in Boston Properties during the 3rd quarter worth about $904,000. Cambridge Investment Research Advisors Inc. raised its stake in Boston Properties by 387.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock valued at $4,900,000 after purchasing an additional 55,501 shares during the last quarter. abrdn plc lifted its holdings in Boston Properties by 4.2% in the 4th quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock valued at $50,090,000 after purchasing an additional 28,870 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Boston Properties by 50.5% in the 4th quarter. National Bank of Canada FI now owns 46,377 shares of the real estate investment trust’s stock valued at $3,343,000 after purchasing an additional 15,570 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About Boston Properties

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.