BXP (NYSE:BXP) Lowered to “Neutral” Rating by Mizuho

Mizuho lowered shares of BXP (NYSE:BXP) from an outperform rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $62.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $79.00.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of BXP in a report on Monday, December 29th. Evercore cut their price objective on BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $79.00 target price on shares of BXP in a research note on Thursday, January 29th. Barclays lowered their target price on shares of BXP from $82.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, UBS Group cut their price target on shares of BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.20.

BXP Stock Performance

Shares of NYSE:BXP opened at $59.49 on Tuesday. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.54 and a beta of 1.01. BXP has a 12 month low of $54.22 and a 12 month high of $79.33. The firm’s 50-day moving average is $65.54 and its 200 day moving average is $69.58. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21.

BXP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were issued a $0.70 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.80 annualized dividend and a dividend yield of 4.7%. BXP’s payout ratio is currently 160.92%.

Insider Transactions at BXP

In related news, EVP Raymond A. Ritchey sold 36,314 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $72.18, for a total value of $2,621,144.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Owen D. Thomas sold 1,198 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 38,706 shares of company stock valued at $2,770,078. Company insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On BXP

Several institutional investors and hedge funds have recently bought and sold shares of BXP. Loomis Sayles & Co. L P purchased a new stake in shares of BXP during the 2nd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in BXP during the 4th quarter worth $25,000. Muzinich & Co. Inc. acquired a new position in BXP during the 3rd quarter valued at about $27,000. Princeton Global Asset Management LLC raised its stake in BXP by 892.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 357 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in BXP in the second quarter valued at about $29,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

About BXP

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.