Boston Properties, Inc. (NYSE:BXP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Boston Properties, Inc. (NYSE:BXP) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $69.53.

Several equities research analysts recently commented on BXP shares. Truist Financial decreased their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Wedbush reduced their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. BMO Capital Markets dropped their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Barclays reduced their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, March 27th. Finally, StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Insider Buying and Selling at Boston Properties

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

Institutional Investors Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Boston Properties by 0.5% in the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after purchasing an additional 122,583 shares in the last quarter. Norges Bank purchased a new position in Boston Properties during the 4th quarter valued at about $890,848,000. Allspring Global Investments Holdings LLC increased its position in shares of Boston Properties by 3.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock valued at $294,031,000 after buying an additional 166,105 shares during the period. Senvest Management LLC increased its position in shares of Boston Properties by 6.3% during the third quarter. Senvest Management LLC now owns 3,035,887 shares of the real estate investment trust’s stock valued at $180,575,000 after buying an additional 179,547 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Boston Properties by 9.6% in the third quarter. Northern Trust Corp now owns 2,780,809 shares of the real estate investment trust’s stock worth $165,403,000 after buying an additional 243,246 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Performance

Shares of BXP stock opened at $61.73 on Friday. The stock has a market capitalization of $9.70 billion, a PE ratio of 50.60, a PEG ratio of 0.24 and a beta of 1.15. The business’s 50 day simple moving average is $62.10 and its 200 day simple moving average is $63.81. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77. Boston Properties has a one year low of $46.80 and a one year high of $73.97.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The firm had revenue of $839.44 million during 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%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. As a group, research analysts forecast that Boston Properties will post 7.05 earnings per share for the current year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 321.31%.

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.