Boston Properties (NYSE:BXP) Rating Increased to Hold at Wedbush

by · The Cerbat Gem

Boston Properties (NYSE:BXP – Get Free Report) was upgraded by investment analysts at Wedbush from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial raised their target price on Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $88.00 in a research note on Thursday, November 14th. Finally, Mizuho cut their price objective on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $82.00.

Get Our Latest Research Report on BXP

Boston Properties Stock Down 0.5 %

NYSE:BXP opened at $69.99 on Wednesday. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a 50 day moving average of $78.36 and a 200-day moving average of $75.58. The firm has a market capitalization of $11.07 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11.

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 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The company had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. Boston Properties’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 earnings per share. Analysts predict that Boston Properties will post 7.1 EPS for the current year.

Hedge Funds Weigh In On Boston Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in shares of Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after buying an additional 6,687 shares during the period. Brooklyn Investment Group purchased a new stake in Boston Properties in the 3rd quarter worth about $58,000. Harvest Fund Management Co. Ltd boosted its position in Boston Properties by 5,025.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares during the period. Crossmark Global Holdings Inc. grew its stake in Boston Properties by 9.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock valued at $690,000 after acquiring an additional 763 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Boston Properties by 12.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock valued at $6,024,000 after purchasing an additional 7,447 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Boston Properties

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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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