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 on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on BXP. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Evercore ISI upped their price target on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their target price on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $82.00.

Boston Properties Stock Performance

NYSE BXP opened at $69.99 on Wednesday. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 0.55 and a beta of 1.18. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11. The stock has a fifty day simple moving average of $78.36 and a 200 day simple moving average of $75.58.

Boston Properties (NYSE:BXP) last issued its quarterly 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 company had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same period in the previous year, the company posted $1.86 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Boston Properties will post 7.1 EPS for the current year.

Institutional Trading of Boston Properties

Several institutional investors and hedge funds have recently modified their holdings of BXP. TD Asset Management Inc boosted its position in shares of Boston Properties by 3.9% during 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 during the last quarter. Victory Capital Management Inc. lifted its stake in 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 boosted its holdings 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 bought a new stake in shares of Boston Properties in the 2nd quarter worth $226,000. Finally, Royal London Asset Management Ltd. raised its holdings in shares of 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 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.