Boston Properties (NYSE:BXP) Upgraded by Compass Point to Buy Rating

Compass Point upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to a buy rating in a research note published on Thursday, MarketBeat Ratings reports. The brokerage currently has $88.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $80.00.

BXP has been the subject of a number of other reports. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. UBS Group raised their price target on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upped their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.85.

Boston Properties Stock Down 1.2 %

BXP stock opened at $78.53 on Thursday. The company has a market cap of $12.42 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The business’s 50-day simple moving average is $82.02 and its 200 day simple moving average is $71.14.

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

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Monday, September 30th. Boston Properties’s dividend payout ratio is currently 169.70%.

Insider Activity

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Boston Properties by 19.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,419 shares of the real estate investment trust’s stock valued at $811,000 after purchasing an additional 1,986 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Boston Properties by 356.2% in the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock valued at $15,977,000 after acquiring an additional 191,883 shares during the last quarter. US Bancorp DE boosted its holdings in Boston Properties by 2.9% during the 1st quarter. US Bancorp DE now owns 48,289 shares of the real estate investment trust’s stock valued at $3,154,000 after acquiring an additional 1,378 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Boston Properties by 19.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,984 shares of the real estate investment trust’s stock worth $17,306,000 after acquiring an additional 43,195 shares during the last quarter. Finally, M&G Plc purchased a new position in Boston Properties in the 1st quarter worth approximately $3,807,000. 98.72% of the stock is currently owned by institutional investors.

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.