Wedbush Upgrades Boston Properties (NYSE:BXP) to Hold

Boston Properties (NYSE:BXP) was upgraded by equities research analysts at Wedbush from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Mizuho reduced their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday. Compass Point upgraded Boston Properties from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $88.00 in a research note on Thursday, November 14th. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, UBS Group raised their price target 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. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.00.

Boston Properties Stock Down 0.5 %

BXP opened at $69.99 on Wednesday. The stock’s fifty day simple moving average is $78.36 and its 200 day simple moving average is $75.58. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11. 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. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). The company had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. Boston Properties’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. As a group, research analysts expect that Boston Properties will post 7.1 earnings per share for the current year.

Institutional Trading of Boston Properties

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

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.