Boston Properties (NYSE:BXP) Rating Increased to Hold at Wedbush

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

Other equities analysts have also issued research reports about the company. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $88.00 in a research note on Thursday, November 14th. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Mizuho dropped their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial upped their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.00.

Boston Properties Stock Down 0.5 %

NYSE BXP opened at $69.99 on Wednesday. The business’s fifty day simple moving average is $78.36 and its 200-day simple moving average is $75.58. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The firm has a market cap of $11.07 billion, a PE ratio of 30.30, a P/E/G ratio of 0.55 and a beta of 1.18. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). The firm 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 business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. As a group, equities analysts anticipate that Boston Properties will post 7.1 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend is Tuesday, December 31st. Boston Properties’s dividend payout ratio is currently 169.70%.

Hedge Funds Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Earnest Partners LLC increased its holdings in Boston Properties by 25.9% in the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after buying an additional 542,610 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Boston Properties by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock worth $118,394,000 after acquiring an additional 120,650 shares in the last quarter. Sei Investments Co. lifted its stake in Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after purchasing an additional 371,946 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Boston Properties by 30.4% in the second quarter. Hsbc Holdings PLC now owns 394,467 shares of the real estate investment trust’s stock valued at $24,216,000 after purchasing an additional 91,954 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Boston Properties by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 376,155 shares of the real estate investment trust’s stock valued at $23,156,000 after purchasing an additional 16,469 shares during the last quarter. 98.72% of the stock is 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.