Boston Properties (NYSE:BXP) Rating Lowered to “Underperform” at Wedbush

Boston Properties (NYSE:BXP) was downgraded by Wedbush from a “neutral” rating to an “underperform” rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $70.00 price target on the real estate investment trust’s stock, down from their previous price target of $81.00. Wedbush’s price target would suggest a potential downside of 6.55% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Scotiabank reiterated a “sector perform” rating and set a $85.00 price target on shares of Boston Properties in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Barclays increased their price target on Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $81.69.

Boston Properties Price Performance

Shares of BXP stock opened at $74.91 on Thursday. Boston Properties has a 1 year low of $56.46 and a 1 year high of $90.11. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The firm’s 50 day moving average is $79.69 and its 200-day moving average is $75.24. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 0.55 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). The firm had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. Sell-side analysts forecast that Boston Properties will post 7.1 EPS for the current fiscal year.

Institutional Trading of Boston Properties

A number of institutional investors have recently made changes to their positions in BXP. Point72 Asia Singapore Pte. Ltd. increased its stake in Boston Properties by 212.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 386 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Boston Properties by 5,025.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 603 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Boston Properties in the third quarter valued at about $58,000. Northwestern Mutual Wealth Management Co. raised its holdings in Boston Properties by 61.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 547 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Boston Properties during the second quarter valued at approximately $116,000. Institutional investors own 98.72% of the company’s stock.

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.