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

Wedbush upgraded shares of Boston Properties (NYSE:BXP) from a strong sell rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. Mizuho cut their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday. Compass Point upgraded Boston Properties from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Truist Financial increased their price objective on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Barclays raised their price target on Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $82.00.

Boston Properties Price Performance

Boston Properties stock opened at $68.18 on Wednesday. The company has a market capitalization of $10.78 billion, a PE ratio of 29.52, a P/E/G ratio of 0.55 and a beta of 1.18. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a 50-day moving average price of $78.14 and a two-hundred day moving average price of $75.62. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11.

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

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.92 dividend on an annualized basis and a yield of 5.75%. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Institutional Investors Weigh In On Boston Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 386 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Boston Properties by 5,025.0% in 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 acquiring an additional 603 shares in the last quarter. Brooklyn Investment Group purchased a new position in Boston Properties in the third quarter worth $58,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Boston Properties by 61.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 547 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Boston Properties in the 2nd quarter worth $116,000. 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.