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

by · The Cerbat Gem

Boston Properties (NYSE:BXP – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research analysts have also recently issued reports on BXP. Evercore ISI increased their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Scotiabank raised their target price on shares of Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Wedbush raised their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.75.

Check Out Our Latest Research Report on BXP

Boston Properties Stock Performance

BXP stock traded down $2.19 during mid-day trading on Thursday, reaching $80.56. The company had a trading volume of 1,875,002 shares, compared to its average volume of 1,270,013. Boston Properties has a one year low of $50.64 and a one year high of $90.11. The stock has a market capitalization of $12.65 billion, a P/E ratio of 34.87, a P/E/G ratio of 0.56 and a beta of 1.18. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The stock’s 50-day simple moving average is $80.67 and its two-hundred day simple moving average is $69.48.

Boston Properties (NYSE:BXP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Boston Properties will post 7.11 EPS for the current year.

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Properties

Several institutional investors and hedge funds have recently modified their holdings of BXP. Point72 Asia Singapore Pte. Ltd. boosted its position in Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 386 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Boston Properties by 115.5% during the 2nd 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 during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Boston Properties by 59.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Boston Properties by 61.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 547 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Boston Properties in the second quarter worth approximately $91,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Company Profile

(Get Free Report)

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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