Boston Properties (NYSE:BXP) Rating Lowered to Sell at StockNews.com

Boston Properties (NYSE:BXP) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other research firms also recently issued reports on BXP. Compass Point upped their price target on Boston Properties from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their target price on Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Scotiabank upped their price objective on shares of Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Evercore ISI lifted their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.75.

Boston Properties Stock Down 1.7 %

Shares of Boston Properties stock opened at $79.16 on Thursday. Boston Properties has a 1 year low of $50.64 and a 1 year high of $90.11. The company has a market cap of $12.43 billion, a P/E ratio of 34.27, a P/E/G ratio of 0.57 and a beta of 1.18. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01. The stock has a 50-day moving average price of $80.79 and a 200 day moving average price of $69.62.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same period last year, the company posted $1.86 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that Boston Properties will post 7.1 EPS for the current fiscal year.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Properties

Hedge funds have recently modified their holdings of the business. Norden Group LLC bought a new position in Boston Properties during the first quarter worth $287,000. First Trust Direct Indexing L.P. boosted its holdings in Boston Properties by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 182 shares during the period. Van ECK Associates Corp raised its stake in Boston Properties by 2.9% in the first quarter. Van ECK Associates Corp now owns 63,617 shares of the real estate investment trust’s stock valued at $4,155,000 after purchasing an additional 1,817 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Boston Properties by 6.3% in the first quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 199 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Boston Properties by 8.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,851 shares of the real estate investment trust’s stock worth $1,819,000 after acquiring an additional 2,276 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.