Boston Properties (NYSE:BXP) Stock Rating Lowered by Wedbush

Boston Properties (NYSE:BXP) was downgraded by analysts at Wedbush from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $70.00 target price on the real estate investment trust’s stock, down from their prior target price of $81.00. Wedbush’s target price indicates a potential downside of 5.86% from the stock’s previous close.

BXP has been the subject of several other research reports. UBS Group lifted their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $88.00 in a research report on Thursday, November 14th. Truist Financial lifted their price target on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.69.

Boston Properties Price Performance

Boston Properties stock opened at $74.36 on Thursday. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 0.55 and a beta of 1.17. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The business has a 50-day simple moving average of $79.97 and a 200 day simple moving average of $75.25. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.28). The business had revenue of $859.23 million for the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. On average, research analysts forecast that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Institutional Trading of Boston Properties

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its holdings in Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after buying an additional 6,687 shares during the period. Brooklyn Investment Group purchased a new position in shares of Boston Properties in the 3rd quarter valued at approximately $58,000. Harvest Fund Management Co. Ltd boosted its position in shares of Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Boston Properties by 9.8% in the third quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock worth $690,000 after purchasing an additional 763 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Boston Properties by 12.0% in the third quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock worth $6,024,000 after purchasing an additional 7,447 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Company Profile

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.