Boston Properties (NYSE:BXP) Rating Lowered to Sell at StockNews.com

Boston Properties (NYSE:BXP) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other research firms also recently commented on BXP. Wedbush dropped their price objective on Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target on the stock. BMO Capital Markets reduced their price objective 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. Truist Financial dropped their target price on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, March 5th. Finally, 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 note on Wednesday, March 27th. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.47.

Boston Properties Stock Performance

Shares of BXP opened at $60.78 on Friday. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The firm has a market capitalization of $9.55 billion, a PE ratio of 49.82 and a beta of 1.15. The firm has a 50-day moving average price of $62.62 and a 200 day moving average price of $63.04. The company has a quick ratio of 5.40, a current ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.22). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The company had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. During the same quarter last year, the business earned $1.73 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Properties will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. McGlone Suttner Wealth Management Inc. acquired a new position in Boston Properties in the 4th quarter worth about $29,000. Manchester Capital Management LLC increased its holdings in Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 340 shares during the last quarter. Sound Income Strategies LLC raised its position in Boston Properties by 770.9% during the fourth quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 424 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Boston Properties during the fourth quarter valued at approximately $34,000. Finally, Cambridge Trust Co. lifted its stake 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 acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.