Boston Properties (NYSE:BXP) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Boston Properties (NYSE:BXP) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $62.00 price target on the real estate investment trust’s stock.

Several other equities research analysts have also commented on the company. Barclays cut their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Evercore ISI cut their target price on Boston Properties from $73.00 to $69.00 and set an outperform rating on the stock in a research report on Monday, May 6th. Wedbush cut their target price on Boston Properties from $66.00 to $63.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. BMO Capital Markets cut their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research report on Monday, April 8th. Finally, StockNews.com lowered Boston Properties from a hold rating to a sell rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $69.60.

Boston Properties Trading Down 1.0 %

Shares of BXP stock opened at $61.41 on Thursday. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 50.34, a PEG ratio of 0.43 and a beta of 1.15. The stock has a 50-day moving average of $60.78 and a 200-day moving average of $64.45. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91. Boston Properties has a 1-year low of $50.64 and a 1-year high of $73.97.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities research analysts forecast that Boston Properties will post 7.04 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.38%. Boston Properties’s dividend payout ratio is presently 321.31%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BXP. Norges Bank bought a new position in shares of Boston Properties in the fourth quarter valued at approximately $890,848,000. Ameriprise Financial Inc. increased its position in shares of Boston Properties by 86.2% during the third quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after acquiring an additional 906,069 shares during the last quarter. Earnest Partners LLC increased its position in shares of Boston Properties by 29.8% during the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock valued at $136,800,000 after acquiring an additional 480,961 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after acquiring an additional 468,950 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Boston Properties by 51.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,113,987 shares of the real estate investment trust’s stock valued at $78,168,000 after acquiring an additional 379,136 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.