Boston Properties (NYSE:BXP) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Boston Properties (NYSE:BXP) from a hold rating to a sell rating in a report released on Friday morning.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a research note on Tuesday, January 30th. They issued a hold rating and a $74.00 price target for the company. Barclays dropped their price target 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. BMO Capital Markets dropped their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research note on Monday, April 8th. Truist Financial dropped their price target on Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research note on Tuesday, March 5th. Finally, Wedbush dropped their price target on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $69.47.

Boston Properties Stock Performance

NYSE:BXP opened at $60.78 on Friday. The firm has a market cap of $9.55 billion, a PE ratio of 49.82 and a beta of 1.15. Boston Properties has a fifty-two week low of $46.80 and a fifty-two week high of $73.97. The company has a debt-to-equity ratio of 1.91, a quick ratio of 5.40 and a current ratio of 4.77. The business has a 50 day moving average price of $62.62 and a 200-day moving average price of $63.12.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The company had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Equities research analysts predict that Boston Properties will post 7.07 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.45%. Boston Properties’s payout ratio is presently 321.31%.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC increased its holdings in Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 340 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Boston Properties in the 4th quarter worth about $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in Boston Properties in the 4th quarter worth about $34,000. Sound Income Strategies LLC increased its holdings in Boston Properties by 770.9% in the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 250 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.