Boston Properties (NYSE:BXP) Downgraded by StockNews.com

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

A number of other equities research analysts also recently issued reports on the stock. Truist Financial cut their target price on shares of Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research report on Tuesday, March 5th. Barclays cut their target price on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating for the company in a research report on Wednesday, March 27th. Wedbush cut their target price on shares of Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research report on Thursday. BMO Capital Markets cut their target price on shares of Boston Properties from $80.00 to $78.00 and set an outperform rating for the company in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $74.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given 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 Up 1.2 %

Shares of NYSE:BXP opened at $60.78 on Friday. 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 company has a market cap of $9.55 billion, a PE ratio of 49.82 and a beta of 1.15. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The firm has a 50 day simple moving average of $62.62 and a 200 day simple moving average of $63.12.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.22). The firm had revenue of $839.44 million during 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 firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, research analysts expect that Boston Properties will post 7.07 earnings per share for the current year.

Boston Properties Announces Dividend

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

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.35% of the stock is currently owned by company insiders.

Institutional Trading of Boston Properties

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

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.