Boston Properties (NYSE:BXP) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of Boston Properties (NYSE:BXPGet Rating) from an in-line rating to an outperform rating in a report issued on Thursday, Marketbeat reports. The firm currently has $100.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $104.00.

BXP has been the topic of several other research reports. Jefferies Financial Group dropped their price target on shares of Boston Properties from $112.00 to $88.00 and set a hold rating on the stock in a research note on Thursday, June 30th. Scotiabank upgraded shares of Boston Properties from a sector perform rating to a sector outperform rating and dropped their price target for the stock from $102.00 to $94.00 in a research note on Thursday. Sumitomo Mitsui Financial Group lowered shares of Boston Properties from an outperform rating to a neutral rating and set a $93.00 price target on the stock. in a research note on Thursday, August 4th. Piper Sandler dropped their price target on shares of Boston Properties from $100.00 to $90.00 and set a neutral rating on the stock in a research note on Thursday, September 15th. Finally, TheStreet lowered shares of Boston Properties from a b- rating to a c+ rating in a research note on Tuesday, September 6th. One equities 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $100.43.

Boston Properties Stock Up 0.5 %

BXP stock opened at $77.84 on Thursday. Boston Properties has a 12-month low of $75.91 and a 12-month high of $133.11. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 1.71. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.84 and a beta of 1.14. The company has a 50 day moving average of $85.39 and a two-hundred day moving average of $102.49.

Boston Properties (NYSE:BXPGet Rating) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted $1.72 earnings per share. On average, equities analysts anticipate that Boston Properties will post 7.52 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.92 annualized dividend and a dividend yield of 5.04%. Boston Properties’s payout ratio is 93.33%.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 22,472 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $89.96, for a total value of $2,021,581.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.09% of the company’s stock.

Institutional Trading of Boston Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in Boston Properties by 1.0% in the first quarter. CIBC Asset Management Inc now owns 14,134 shares of the real estate investment trust’s stock valued at $1,820,000 after acquiring an additional 135 shares during the period. Signaturefd LLC boosted its position in Boston Properties by 13.5% in the first quarter. Signaturefd LLC now owns 1,040 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 124 shares in the last quarter. AIA Group Ltd boosted its position in Boston Properties by 157.0% in the first quarter. AIA Group Ltd now owns 573 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 350 shares in the last quarter. Moody National Bank Trust Division boosted its position in Boston Properties by 38.7% in the second quarter. Moody National Bank Trust Division now owns 4,529 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 1,263 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Boston Properties by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 86,021 shares of the real estate investment trust’s stock valued at $11,080,000 after buying an additional 222 shares in the last quarter. Institutional investors own 92.47% of the company’s stock.

Boston Properties Company Profile

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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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Analyst Recommendations for Boston Properties (NYSE:BXP)

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