Boston Properties (NYSE:BXP) Raised to Hold at Wedbush

Wedbush upgraded shares of Boston Properties (NYSE:BXP) from a strong sell rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

BXP has been the subject of a number of other reports. Mizuho decreased their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. UBS Group upped their target price on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Barclays lifted their price target on shares of Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company upped their price target on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.00.

Boston Properties Stock Down 0.5 %

Shares of NYSE BXP opened at $69.99 on Wednesday. The stock has a market cap of $11.07 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. Boston Properties has a 52-week low of $56.46 and a 52-week high of $90.11. The business has a 50-day moving average price of $78.36 and a 200 day moving average price of $75.58. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business had revenue of $859.23 million for the quarter, compared to analysts’ expectations of $829.91 million. During the same quarter last year, the business posted $1.86 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Boston Properties will post 7.1 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Tuesday, December 31st. Boston Properties’s payout ratio is currently 169.70%.

Institutional Investors Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently modified their holdings of BXP. TD Asset Management Inc grew its stake in Boston Properties by 3.9% in the 2nd quarter. TD Asset Management Inc now owns 38,791 shares of the real estate investment trust’s stock worth $2,388,000 after acquiring an additional 1,441 shares during the period. Victory Capital Management Inc. increased its stake in Boston Properties by 189.0% in the second quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust’s stock valued at $4,897,000 after purchasing an additional 52,026 shares during the last quarter. Acadian Asset Management LLC increased its stake in Boston Properties by 70.1% in the second quarter. Acadian Asset Management LLC now owns 30,959 shares of the real estate investment trust’s stock valued at $1,905,000 after purchasing an additional 12,763 shares during the last quarter. Choreo LLC purchased a new position in Boston Properties during the second quarter worth about $226,000. Finally, Royal London Asset Management Ltd. boosted its stake in Boston Properties by 4.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 79,324 shares of the real estate investment trust’s stock worth $4,883,000 after buying an additional 3,226 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.