Piper Sandler downgraded shares of Boston Properties (NYSE:BXP) from an overweight rating to a neutral rating in a report released on Thursday, BenzingaRatingsTable reports. They currently have $100.00 price target on the real estate investment trust’s stock, down from their prior price target of $115.00.
BXP has been the topic of a number of other reports. SunTrust Banks raised Boston Properties from a hold rating to a buy rating and set a $121.00 price target on the stock in a research note on Tuesday, June 9th. Deutsche Bank dropped their price target on Boston Properties from $127.00 to $111.00 and set a buy rating on the stock in a research note on Monday, July 20th. Mizuho dropped their price target on Boston Properties from $105.00 to $92.00 and set a neutral rating on the stock in a research note on Monday, July 20th. Jefferies Financial Group downgraded Boston Properties from a buy rating to a hold rating and set a $94.00 price target on the stock. in a research note on Thursday, April 16th. Finally, Stifel Nicolaus dropped their price target on Boston Properties from $115.00 to $110.00 and set a buy rating on the stock in a research note on Tuesday, June 30th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $118.38.
Shares of NYSE:BXP opened at $89.09 on Thursday. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 2.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 7.67 and a quick ratio of 5.59. The business’s 50-day moving average is $91.26 and its 200-day moving average is $105.83. Boston Properties has a 1 year low of $71.57 and a 1 year high of $147.83.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.03). The business had revenue of $654.10 million during the quarter, compared to analyst estimates of $723.59 million. Boston Properties had a net margin of 35.18% and a return on equity of 12.72%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Analysts anticipate that Boston Properties will post 7.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, June 29th. Boston Properties’s dividend payout ratio is presently 55.92%.
In other Boston Properties news, Director Bruce W. Duncan bought 11,000 shares of Boston Properties stock in a transaction dated Monday, May 4th. The stock was bought at an average cost of $89.14 per share, with a total value of $980,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce W. Duncan bought 5,000 shares of Boston Properties stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $75.47 per share, with a total value of $377,350.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 18,000 shares of company stock valued at $1,513,890. 0.98% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Procyon Private Wealth Partners LLC bought a new position in Boston Properties during the fourth quarter valued at $25,000. Bessemer Group Inc. grew its holdings in Boston Properties by 116.0% during the first quarter. Bessemer Group Inc. now owns 337 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 181 shares during the period. Signaturefd LLC grew its holdings in Boston Properties by 225.4% during the first quarter. Signaturefd LLC now owns 436 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 302 shares during the period. Cornerstone Advisors Inc. grew its holdings in Boston Properties by 316.8% during the first quarter. Cornerstone Advisors Inc. now owns 546 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 415 shares during the period. Finally, Whittier Trust Co. grew its holdings in Boston Properties by 33.3% during the second quarter. Whittier Trust Co. now owns 701 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 175 shares during the period. 88.88% of the stock is owned by institutional investors.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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