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

Boston Properties, Inc. (NYSE:BXP) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $69.56.

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target for the company. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Truist Financial reduced their target price on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Jefferies Financial Group upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $57.00 to $80.00 in a research note on Tuesday, January 2nd. Finally, Barclays reduced their target price on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday.

Boston Properties Price Performance

Boston Properties stock opened at $65.31 on Friday. The firm has a market cap of $10.25 billion, a PE ratio of 53.98 and a beta of 1.15. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. The company’s 50 day moving average is $65.36 and its two-hundred day moving average is $62.70.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The firm had revenue of $828.90 million during the quarter, compared to analysts’ expectations of $811.59 million. During the same period in the prior year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts expect that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.00%. Boston Properties’s payout ratio is currently 323.97%.

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Institutional Trading of Boston Properties

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Boston Properties by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 23,446,379 shares of the real estate investment trust’s stock valued at $1,645,232,000 after purchasing an additional 62,539 shares during the last quarter. BlackRock Inc. grew its position in shares of Boston Properties by 0.5% during the second quarter. BlackRock Inc. now owns 18,399,649 shares of the real estate investment trust’s stock worth $1,059,636,000 after acquiring an additional 100,495 shares during the last quarter. Norges Bank bought a new position in shares of Boston Properties during the fourth quarter worth about $890,848,000. State Street Corp grew its position in shares of Boston Properties by 1.3% during the second quarter. State Street Corp now owns 11,765,331 shares of the real estate investment trust’s stock worth $688,767,000 after acquiring an additional 151,276 shares during the last quarter. Finally, APG Asset Management US Inc. grew its position in shares of Boston Properties by 2.2% during the second quarter. APG Asset Management US Inc. now owns 7,525,913 shares of the real estate investment trust’s stock worth $433,417,000 after acquiring an additional 164,726 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Company Profile

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.