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

StockNews.com downgraded shares of Boston Properties (NYSE:BXP) from a hold rating to a sell rating in a report published on Wednesday.

BXP has been the topic of several other reports. Wedbush lowered their target price on Boston Properties from $66.00 to $63.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets decreased their price target on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research note on Monday, April 8th. Evercore ISI decreased their price target on Boston Properties from $73.00 to $69.00 and set an outperform rating on the stock in a research note on Monday, May 6th. Barclays decreased their price target on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a research note on Friday, May 24th. Finally, Morgan Stanley restated an equal weight rating and issued a $62.00 price target on shares of Boston Properties in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $69.60.

Boston Properties Trading Down 4.8 %

Shares of BXP stock opened at $66.93 on Wednesday. The business’s 50 day moving average is $63.35 and its two-hundred day moving average is $63.60. Boston Properties has a twelve month low of $50.64 and a twelve month high of $73.97. The company has a market capitalization of $10.51 billion, a P/E ratio of 54.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.77 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The company had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same quarter last year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Boston Properties will post 7.12 EPS for the current year.

Boston Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.92 annualized dividend and a yield of 5.86%. Boston Properties’s dividend payout ratio is presently 321.31%.

Institutional Investors Weigh In On Boston Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXP. Norges Bank acquired a new stake in Boston Properties during the fourth quarter worth about $890,848,000. Earnest Partners LLC increased its stake in Boston Properties by 29.8% during the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock worth $136,800,000 after acquiring an additional 480,961 shares during the last quarter. Centersquare Investment Management LLC increased its stake in Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock worth $139,407,000 after acquiring an additional 468,950 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Boston Properties by 51.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,113,987 shares of the real estate investment trust’s stock worth $78,168,000 after acquiring an additional 379,136 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Boston Properties by 206.6% during the first quarter. Los Angeles Capital Management LLC now owns 508,961 shares of the real estate investment trust’s stock worth $33,240,000 after acquiring an additional 342,939 shares during the last quarter. 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.