Boston Properties (NYSE:BXP) Upgraded by Scotiabank to “Sector Outperform”

Scotiabank upgraded shares of Boston Properties (NYSE:BXPGet Rating) from a sector perform rating to a sector outperform rating in a research report report published on Thursday morning, The Fly reports. The firm currently has $94.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $102.00.

Several other equities analysts have also commented on the company. Piper Sandler reduced their price objective on Boston Properties from $100.00 to $90.00 and set a neutral rating on the stock in a research report on Thursday, September 15th. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a report on Friday, August 5th. Deutsche Bank Aktiengesellschaft dropped their target price on Boston Properties from $139.00 to $104.00 in a report on Wednesday, July 20th. Morgan Stanley dropped their target price on Boston Properties from $80.00 to $78.00 and set an equal weight rating for the company in a report on Friday, September 9th. Finally, UBS Group dropped their target price on Boston Properties from $131.00 to $98.00 and set a neutral rating for the company in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Boston Properties currently has a consensus rating of Hold and a consensus price target of $100.43.

Boston Properties Price Performance

Shares of Boston Properties stock opened at $77.84 on Thursday. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $12.20 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The business’s 50-day moving average price is $85.39 and its 200-day moving average price is $102.49. Boston Properties has a 12 month low of $75.91 and a 12 month high of $133.11.

Boston Properties (NYSE:BXPGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $0.78 by $0.64. Boston Properties had a return on equity of 8.17% and a net margin of 22.04%. During the same quarter last year, the firm posted $1.72 EPS. Sell-side analysts forecast that Boston Properties will post 7.52 EPS for the current fiscal year.

Boston Properties Announces Dividend

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

Insider Buying and Selling

In related news, EVP Raymond A. Ritchey sold 22,472 shares of Boston Properties stock in a transaction dated Friday, August 12th. The stock was 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 through this hyperlink. 1.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Properties

Several institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in Boston Properties by 22.6% in the 2nd quarter. Brown Advisory Inc. now owns 13,842 shares of the real estate investment trust’s stock worth $1,231,000 after buying an additional 2,548 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Boston Properties by 11.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 71,635 shares of the real estate investment trust’s stock worth $6,377,000 after buying an additional 7,418 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Boston Properties during the 2nd quarter worth approximately $618,000. Captrust Financial Advisors acquired a new position in shares of Boston Properties during the 2nd quarter worth approximately $867,000. Finally, Legal & General Group Plc raised its position in shares of Boston Properties by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 2,094,661 shares of the real estate investment trust’s stock valued at $186,383,000 after buying an additional 42,745 shares during the period. 92.47% of the stock is currently owned by institutional investors and hedge funds.

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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