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 issued to investors on Thursday, Marketbeat reports. Wedbush currently has $70.00 target price on the real estate investment trust’s stock, down from their previous target price of $81.00.

A number of other research analysts have also weighed in on the company. UBS Group raised their price objective on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Compass Point upgraded Boston Properties from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $88.00 in a report on Thursday, November 14th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a report on Thursday, November 7th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.69.

Boston Properties Trading Up 1.6 %

BXP stock opened at $74.91 on Thursday. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11. The business has a 50 day simple moving average of $79.45 and a two-hundred day simple moving average of $75.33. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 0.55 and a beta of 1.18.

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

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Tuesday, December 31st. Boston Properties’s dividend payout ratio is currently 169.70%.

Institutional Trading of Boston Properties

Several institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Boston Properties by 61.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock valued at $1,759,000 after buying an additional 10,928 shares during the last quarter. Victory Capital Management Inc. grew its position in Boston Properties by 189.0% in the 2nd quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust’s stock valued at $4,897,000 after acquiring an additional 52,026 shares during the last quarter. Toronto Dominion Bank increased its stake in Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares during the period. Natixis Advisors LLC lifted its position in shares of 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 purchasing an additional 51,158 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Boston Properties by 92.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 13,831 shares of the real estate investment trust’s stock valued at $851,000 after purchasing an additional 6,642 shares during the period. 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.