Boston Properties (NYSE:BXP) Stock Rating Reaffirmed by Morgan Stanley

Boston Properties (NYSE:BXP)‘s stock had its “equal weight” rating reiterated by stock analysts at Morgan Stanley in a report released on Thursday, Benzinga reports. They presently have a $62.00 target price on the real estate investment trust’s stock. Morgan Stanley’s price objective suggests a potential upside of 0.81% from the company’s previous close.

BXP has been the topic of several other reports. BMO Capital Markets cut their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Truist Financial lowered their price objective on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. Evercore ISI lowered their price objective on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Wedbush lowered their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.60.

Boston Properties Price Performance

Shares of BXP opened at $61.50 on Thursday. Boston Properties has a twelve month low of $50.64 and a twelve month high of $73.97. The firm’s fifty day simple moving average is $60.80 and its 200-day simple moving average is $64.43. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 50.41, 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 announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. During the same quarter in the previous year, the business posted $1.73 earnings per share. Boston Properties’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that Boston Properties will post 7.04 EPS for the current fiscal year.

Institutional Trading of Boston Properties

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in Boston Properties by 81.2% during the third quarter. HighTower Advisors LLC now owns 27,117 shares of the real estate investment trust’s stock worth $1,607,000 after acquiring an additional 12,151 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Boston Properties by 4.5% during the third quarter. PNC Financial Services Group Inc. now owns 55,857 shares of the real estate investment trust’s stock worth $3,322,000 after acquiring an additional 2,427 shares during the last quarter. Rafferty Asset Management LLC raised its position in Boston Properties by 6.2% during the third quarter. Rafferty Asset Management LLC now owns 16,118 shares of the real estate investment trust’s stock worth $959,000 after acquiring an additional 935 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Boston Properties during the third quarter worth about $1,009,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Boston Properties during the third quarter worth about $565,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.