Boston Properties (NYSE:BXP) Lowered to Underperform Rating by Wedbush

Wedbush downgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to an underperform rating in a research note published on Thursday morning, MarketBeat.com reports. They currently have $70.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $81.00.

Several other equities research analysts have also recently weighed in on BXP. Barclays boosted their price objective on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Truist Financial increased their price target on Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $88.00 in a research note on Thursday, November 14th. Finally, Wells Fargo & Company raised their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Boston Properties presently has a consensus rating of “Hold” and an average price target of $81.69.

Boston Properties Trading Down 0.9 %

BXP stock opened at $73.70 on Thursday. The firm has a fifty day moving average price of $79.69 and a 200 day moving average price of $75.24. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The firm has a market cap of $11.65 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS 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 business had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. During the same period in the previous year, the business earned $1.86 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Tuesday, December 31st. Boston Properties’s dividend payout ratio is presently 169.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Boston Properties by 5,025.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the period. Brooklyn Investment Group bought a new position in shares of Boston Properties during the third quarter valued at approximately $58,000. Northwestern Mutual Wealth Management Co. increased its holdings in Boston Properties by 61.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 547 shares during the period. Finally, Centaurus Financial Inc. bought a new position in Boston Properties in the second quarter worth approximately $116,000. 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.