Boston Properties, Inc. (NYSE:BXP – Get Free Report) dropped 3.7% during trading on Wednesday after Truist Financial lowered their price target on the stock from $77.00 to $75.00. Truist Financial currently has a hold rating on the stock. Boston Properties traded as low as $62.16 and last traded at $62.20. Approximately 593,658 shares were traded during trading, a decline of 61% from the average daily volume of 1,518,138 shares. The stock had previously closed at $64.60.
Several other equities analysts have also commented on BXP. Barclays raised their price target on Boston Properties from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 target price for the company. Jefferies Financial Group raised Boston Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $57.00 to $80.00 in a report on Tuesday, January 2nd. Piper Sandler boosted their price objective on Boston Properties from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. Finally, StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.63.
Hedge Funds Weigh In On Boston Properties
A number of hedge funds have recently modified their holdings of BXP. Eagle Bay Advisors LLC purchased a new position in Boston Properties during the 2nd quarter valued at about $31,000. Manchester Capital Management LLC boosted its stake in shares of Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 340 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Boston Properties in the 4th quarter valued at about $29,000. Quarry LP purchased a new position in shares of Boston Properties in the 4th quarter valued at about $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Boston Properties during the 4th quarter worth about $34,000. 94.58% of the stock is currently owned by hedge funds and other institutional investors.
Boston Properties Stock Down 2.2 %
The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 53.39 and a beta of 1.15. The firm has a 50-day moving average price of $67.59 and a two-hundred day moving average price of $62.93.
Boston Properties (NYSE:BXP – Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The firm had revenue of $828.90 million for the quarter, compared to analyst estimates of $811.59 million. During the same period last year, the firm earned $1.86 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Boston Properties, Inc. will post 7.13 earnings per share for the current year.
Boston Properties Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th were given a dividend of $0.98 per share. The ex-dividend date was Thursday, December 28th. This represents a $3.92 dividend on an annualized basis and a yield of 6.20%. Boston Properties’s payout ratio is 323.97%.
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.