Boston Properties (NYSE:BXP) Cut to “Sell” at StockNews.com

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

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI decreased their target price on Boston Properties from $73.00 to $69.00 and set an outperform rating for the company in a research report on Monday, May 6th. Truist Financial decreased their target price on Boston Properties from $75.00 to $67.00 and set a hold rating for the company in a research report on Friday, June 14th. Barclays decreased their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a research report on Friday, May 24th. Morgan Stanley reaffirmed an equal weight rating and set a $62.00 target price on shares of Boston Properties in a research report on Thursday, June 20th. Finally, BMO Capital Markets cut their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties presently has a consensus rating of Hold and an average target price of $69.60.

Boston Properties Trading Down 4.8 %

Shares of NYSE BXP opened at $66.90 on Wednesday. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 54.84, a PEG ratio of 0.46 and a beta of 1.18. The business has a 50 day simple moving average of $63.35 and a 200 day simple moving average of $63.64. Boston Properties has a 52 week low of $50.64 and a 52 week high of $73.97. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). The firm had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The company’s quarterly revenue was up 4.1% 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 predict that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.98 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.86%. Boston Properties’s payout ratio is 321.31%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Boston Properties by 187.2% in the second quarter. National Bank of Canada FI now owns 127,268 shares of the real estate investment trust’s stock valued at $7,721,000 after purchasing an additional 82,959 shares in the last quarter. TD Asset Management Inc raised its stake in Boston Properties by 3.9% during the second quarter. TD Asset Management Inc now owns 38,791 shares of the real estate investment trust’s stock worth $2,388,000 after acquiring an additional 1,441 shares in the last quarter. Natixis Advisors LLC raised its stake in Boston Properties by 52.8% during the second quarter. Natixis Advisors LLC now owns 148,073 shares of the real estate investment trust’s stock worth $9,115,000 after acquiring an additional 51,158 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Boston Properties by 9.9% during the second quarter. Commonwealth Equity Services LLC now owns 148,949 shares of the real estate investment trust’s stock worth $9,169,000 after acquiring an additional 13,369 shares in the last quarter. Finally, Intact Investment Management Inc. raised its stake in Boston Properties by 22.4% during the second quarter. Intact Investment Management Inc. now owns 42,840 shares of the real estate investment trust’s stock worth $2,637,000 after acquiring an additional 7,840 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.