Boston Properties, Inc. (NYSE:BXP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Boston Properties, Inc. (NYSE:BXP) have been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $79.83.

BXP has been the topic of a number of research reports. Mizuho lowered their price target on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company cut their target price on Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group assumed coverage on shares of Boston Properties in a research note on Monday, March 17th. They set a “buy” rating and a $78.00 price target on the stock. Scotiabank cut their price objective on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Piper Sandler decreased their target price on shares of Boston Properties from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th.

Boston Properties Price Performance

Boston Properties stock opened at $64.98 on Friday. The business has a 50-day simple moving average of $65.41 and a 200 day simple moving average of $73.01. Boston Properties has a 52 week low of $54.22 and a 52 week high of $90.11. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 649.86, a PEG ratio of 0.91 and a beta of 1.06. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.01). Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. The company had revenue of $865.22 million during the quarter, compared to the consensus estimate of $833.89 million. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts forecast that Boston Properties will post 6.91 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend was Monday, March 31st. Boston Properties’s payout ratio is -19,600.00%.

Insider Buying and Selling

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hilary J. Spann sold 12,379 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares in the company, valued at approximately $523,657.42. This trade represents a 63.00 % decrease in their position. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Properties

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group increased its position in Boston Properties by 19.8% during the 4th quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Boston Properties by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the real estate investment trust’s stock worth $650,000 after purchasing an additional 156 shares in the last quarter. Huntington National Bank grew its position in Boston Properties by 29.8% during the 4th quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 263 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in Boston Properties in the fourth quarter worth about $32,000. Finally, Spirit of America Management Corp NY lifted its stake in shares of Boston Properties by 7.8% in the first quarter. Spirit of America Management Corp NY now owns 6,915 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 500 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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.