Sumitomo Mitsui Financial Group Downgrades Boston Properties (NYSE:BXP) to Neutral

Boston Properties (NYSE:BXPGet Rating) was downgraded by equities research analysts at Sumitomo Mitsui Financial Group from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. They currently have a $93.00 target price on the real estate investment trust’s stock. Sumitomo Mitsui Financial Group’s target price suggests a potential upside of 7.40% from the stock’s current price.

A number of other research firms also recently issued reports on BXP. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boston Properties from $139.00 to $104.00 in a report on Wednesday, July 20th. Mizuho dropped their price objective on shares of Boston Properties from $135.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, July 6th. The Goldman Sachs Group lowered their price target on shares of Boston Properties from $120.00 to $112.00 and set a “sell” rating for the company in a research note on Wednesday, May 25th. Piper Sandler downgraded shares of Boston Properties from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $120.00 to $100.00 in a research note on Thursday, July 28th. Finally, UBS Group lowered their price target on shares of Boston Properties from $131.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.54.

Boston Properties Stock Down 0.1 %

Boston Properties stock opened at $86.59 on Thursday. Boston Properties has a 1-year low of $84.86 and a 1-year high of $133.11. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.05 and a beta of 1.11. The company has a current ratio of 4.35, a quick ratio of 4.73 and a debt-to-equity ratio of 1.71. The firm has a 50 day simple moving average of $92.68 and a 200 day simple moving average of $110.47.

Boston Properties (NYSE:BXPGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. Boston Properties had a net margin of 22.04% and a return on equity of 8.17%. During the same quarter last year, the company posted $1.72 earnings per share. On average, analysts predict that Boston Properties will post 7.5 earnings per share for the current year.

Hedge Funds Weigh In On Boston Properties

Several hedge funds and other institutional investors have recently modified their holdings of BXP. Vanguard Group Inc. grew its holdings in Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock worth $3,011,742,000 after purchasing an additional 404,123 shares during the period. BlackRock Inc. grew its holdings in Boston Properties by 6.9% in the fourth quarter. BlackRock Inc. now owns 17,343,626 shares of the real estate investment trust’s stock worth $1,997,639,000 after purchasing an additional 1,119,895 shares during the period. Norges Bank purchased a new stake in Boston Properties in the fourth quarter worth about $1,501,665,000. State Street Corp grew its holdings in Boston Properties by 6.1% in the first quarter. State Street Corp now owns 11,026,679 shares of the real estate investment trust’s stock worth $1,430,779,000 after purchasing an additional 638,452 shares during the period. Finally, Capital World Investors grew its holdings in Boston Properties by 3.5% in the first quarter. Capital World Investors now owns 7,676,647 shares of the real estate investment trust’s stock worth $988,752,000 after purchasing an additional 260,955 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

About Boston Properties

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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