Boston Properties (NYSE:BXP) Downgraded by StockNews.com

StockNews.com cut shares of Boston Properties (NYSE:BXP) from a hold rating to a sell rating in a research report report published on Friday.

A number of other equities analysts have also issued reports on BXP. Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $74.00 target price on the stock. Barclays dropped their price target on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a research note on Wednesday, March 27th. Truist Financial reduced their price objective on Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research report on Tuesday, March 5th. BMO Capital Markets decreased their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a report on Monday, April 8th. Finally, Wedbush dropped their price objective on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Boston Properties has a consensus rating of Hold and an average price target of $69.53.

Boston Properties Stock Performance

BXP opened at $61.56 on Friday. The firm has a market capitalization of $9.67 billion, a PE ratio of 50.46 and a beta of 1.15. The firm has a 50 day moving average of $62.57 and a two-hundred day moving average of $63.17. The company has a current ratio of 4.77, a quick ratio of 5.40 and a debt-to-equity ratio of 1.91. Boston Properties has a 12-month low of $46.80 and a 12-month high of $73.97.

Boston Properties (NYSE:BXP) last released its earnings results 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 return on equity of 2.35% and a net margin of 5.81%. The firm had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. During the same quarter in the previous year, the company posted $1.73 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Boston Properties will post 7.07 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 annualized dividend and a yield of 6.37%. Boston Properties’s payout ratio is currently 321.31%.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXP. Norges Bank bought a new position in shares of Boston Properties during the fourth quarter worth about $890,848,000. Ameriprise Financial Inc. raised its holdings in Boston Properties by 86.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after acquiring an additional 906,069 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Boston Properties during the 3rd quarter valued at $43,709,000. Centersquare Investment Management LLC lifted its holdings in shares of Boston Properties by 30.9% during the 4th quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock worth $139,407,000 after acquiring an additional 468,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Boston Properties by 27.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,986,269 shares of the real estate investment trust’s stock valued at $118,143,000 after purchasing an additional 429,587 shares during the last quarter. 98.72% of the stock is 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.