Boston Properties (NYSE:BXP) Cut to “Strong Sell” at Wedbush

Boston Properties (NYSE:BXP) was downgraded by analysts at Wedbush from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on BXP. Scotiabank reiterated a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a research report on Thursday, November 7th. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $88.00 in a report on Thursday, November 14th. Jefferies Financial Group cut their target price on shares of Boston Properties from $93.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Piper Sandler decreased their price target on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group lifted their target price on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $82.23.

Boston Properties Stock Performance

Shares of BXP stock opened at $73.11 on Thursday. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The business has a 50 day moving average of $75.88 and a two-hundred day moving average of $76.62. The company has a market cap of $11.56 billion, a P/E ratio of 731.12, a PEG ratio of 0.49 and a beta of 1.18. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.86% and a net margin of 0.38%. As a group, analysts anticipate that Boston Properties will post 6.86 EPS for the current year.

Institutional Trading of Boston Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Boston Properties by 15.7% during the 3rd quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares in the last quarter. Sun Life Financial Inc. acquired a new stake in Boston Properties in the third quarter valued at approximately $9,674,000. Raymond James & Associates grew its position in Boston Properties by 11.9% in the third quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock worth $8,898,000 after acquiring an additional 11,752 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Boston Properties by 4.2% during the 3rd quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock worth $23,844,000 after purchasing an additional 12,018 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Boston Properties by 44.9% during the 2nd quarter. AQR Capital Management LLC now owns 58,217 shares of the real estate investment trust’s stock valued at $3,526,000 after purchasing an additional 18,034 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.