Boston Properties, Inc. (NYSE:BXP) Receives Average Rating of “Hold” from Brokerages

Boston Properties, Inc. (NYSE:BXP) has been given an average rating of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $80.85.

Several equities analysts have commented on the company. Truist Financial upped their price objective on Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler cut their price objective on Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company cut their price objective on Boston Properties from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 30th. Finally, Mizuho cut their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th.

Insider Activity at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the sale, the executive vice president now owns 7,271 shares of the company’s stock, valued at approximately $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan purchased a new stake in Boston Properties in the fourth quarter valued at about $32,000. Harvest Fund Management Co. Ltd raised its stake in Boston Properties by 5,025.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Boston Properties in the third quarter valued at about $58,000. Huntington National Bank raised its stake in shares of Boston Properties by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 263 shares during the last quarter. Finally, Hurley Capital LLC purchased a new position in shares of Boston Properties in the fourth quarter worth about $94,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Stock Performance

NYSE:BXP opened at $68.40 on Friday. The stock’s fifty day moving average is $70.27 and its 200 day moving average is $76.52. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The firm has a market capitalization of $10.82 billion, a PE ratio of 684.06, a PEG ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, sell-side analysts anticipate that Boston Properties will post 6.91 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.73%. Boston Properties’s payout ratio is currently 3,920.00%.

About Boston Properties

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.