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

Boston Properties, Inc. (NYSE:BXP) has been assigned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $70.07.

A number of equities research analysts have commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Evercore ISI reduced their target price on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Wedbush raised their target price on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday. Finally, Truist Financial reduced their target price on Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a report on Friday, June 14th.

Boston Properties Price Performance

Shares of NYSE BXP opened at $65.65 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.77. The stock has a fifty day moving average price of $63.35 and a 200 day moving average price of $63.57. Boston Properties has a 1-year low of $50.64 and a 1-year high of $73.97. The company has a market cap of $10.31 billion, a PE ratio of 53.81, a P/E/G ratio of 0.46 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period in the prior year, the business earned $1.86 earnings per share. Boston Properties’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts forecast that Boston Properties will post 7.12 EPS for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio is presently 321.31%.

Institutional Trading of Boston Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. Manchester Capital Management LLC increased its position in Boston Properties by 435.9% during the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 340 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Boston Properties during the 4th quarter worth about $34,000. Cambridge Trust Co. grew its holdings in Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 250 shares during the period. UMB Bank n.a. grew its holdings in Boston Properties by 115.5% in the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the period. Finally, Abich Financial Wealth Management LLC grew its holdings in Boston Properties by 59.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares during the period. 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.