Boston Properties, Inc. (NYSE:BXP) Given Consensus Recommendation of “Hold” by Brokerages

Boston Properties, Inc. (NYSE:BXP) has been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $69.44.

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded Boston Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $80.00 in a report on Tuesday, January 2nd. BMO Capital Markets lowered their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Truist Financial lowered their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price objective for the company. Finally, Barclays decreased their price objective on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 27th.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

A number of institutional investors have recently modified their holdings of BXP. IFM Investors Pty Ltd boosted its position in Boston Properties by 2.5% during the first quarter. IFM Investors Pty Ltd now owns 27,905 shares of the real estate investment trust’s stock worth $1,822,000 after purchasing an additional 671 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Boston Properties by 2.8% in the first 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 acquiring an additional 182 shares in the last quarter. Abundance Wealth Counselors lifted its position in shares of Boston Properties by 31.4% in the first quarter. Abundance Wealth Counselors now owns 5,772 shares of the real estate investment trust’s stock valued at $377,000 after acquiring an additional 1,379 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Boston Properties in the first quarter valued at $287,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Boston Properties by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock valued at $294,031,000 after acquiring an additional 166,105 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Stock Up 1.9 %

Shares of NYSE:BXP opened at $61.34 on Tuesday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. The business has a fifty day moving average of $63.33 and a two-hundred day moving average of $62.76. The stock has a market cap of $9.63 billion, a P/E ratio of 50.69 and a beta of 1.15. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. During the same period last year, the company earned $1.86 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts expect that Boston Properties will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties’s payout ratio is currently 323.97%.

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.