Boston Properties (NYSE:BXP) Upgraded at Wedbush

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

Several other research firms also recently weighed in on BXP. StockNews.com downgraded shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. UBS Group upped their price objective on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Evercore ISI lifted their target price on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Mizuho dropped their price target on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group decreased their price objective on shares of Boston Properties from $93.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Properties has a consensus rating of “Hold” and an average price target of $82.00.

Boston Properties Price Performance

BXP stock opened at $68.18 on Wednesday. The stock has a 50-day moving average price of $78.14 and a two-hundred day moving average price of $75.62. The company has a market cap of $10.78 billion, a PE ratio of 29.52, 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 has a 12-month low of $56.46 and a 12-month high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results 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). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Boston Properties will post 7.1 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.75%. The ex-dividend date is Tuesday, December 31st. Boston Properties’s payout ratio is 169.70%.

Hedge Funds Weigh In On Boston Properties

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Boston Properties by 15.7% in the 3rd quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after acquiring an additional 6,687 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Boston Properties during the 3rd quarter worth $58,000. Harvest Fund Management Co. Ltd grew its position 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 purchasing an additional 603 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Boston Properties by 9.8% in the third quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock valued at $690,000 after buying an additional 763 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Boston Properties by 12.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock valued at $6,024,000 after purchasing an additional 7,447 shares during the period. 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.