Boston Properties (NYSE:BXP – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
BXP has been the subject of several other reports. Evercore ISI reduced their price objective on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research note on Thursday, June 20th. Wedbush lowered their target price on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Barclays cut their price target on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Finally, Truist Financial reduced their target price on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Properties has an average rating of “Hold” and a consensus target price of $69.60.
View Our Latest Research Report on Boston Properties
Boston Properties Price Performance
Shares of BXP stock opened at $72.72 on Wednesday. The business’s fifty day moving average is $62.79 and its 200 day moving average is $63.56. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 1.91. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 59.61, a PEG ratio of 0.46 and a beta of 1.18. Boston Properties has a twelve month low of $50.64 and a twelve month high of $73.97.
Boston Properties (NYSE:BXP – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. During the same period last year, the business earned $1.73 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts expect that Boston Properties will post 7.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Boston Properties
Several institutional investors have recently made changes to their positions in BXP. Manchester Capital Management LLC grew its position in Boston Properties by 435.9% during the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 340 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Boston Properties during the fourth quarter worth approximately $34,000. Cambridge Trust Co. grew its holdings in Boston Properties by 80.1% in the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 250 shares during the period. UMB Bank n.a. increased its position in shares of Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 395 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.
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.
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