Boston Properties (NYSE:BXP) Upgraded by Compass Point to Buy Rating

Compass Point upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat reports. The brokerage currently has $88.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $80.00.

Several other research firms have also recently issued reports on BXP. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Wedbush lifted their price target on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price target on shares of Boston Properties in a report on Thursday, November 7th. Finally, UBS Group lifted their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Boston Properties presently has an average rating of “Hold” and an average target price of $80.85.

Boston Properties Price Performance

Shares of NYSE:BXP traded down $1.25 during midday trading on Thursday, hitting $78.22. The company had a trading volume of 545,487 shares, compared to its average volume of 1,270,826. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The business’s 50-day simple moving average is $81.94 and its 200-day simple moving average is $70.89.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS 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 prior year, the business posted $1.86 EPS. Boston Properties’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts predict that Boston Properties will post 7.1 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Properties

Several institutional investors have recently modified their holdings of the company. Earnest Partners LLC lifted its stake in Boston Properties by 25.9% in the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after buying an additional 542,610 shares in the last quarter. Sei Investments Co. lifted its stake in Boston Properties by 32.9% in the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after buying an additional 371,946 shares in the last quarter. Swedbank AB purchased a new stake in Boston Properties in the 1st quarter valued at approximately $16,729,000. Point72 Asset Management L.P. purchased a new stake in Boston Properties in the 2nd quarter valued at approximately $12,914,000. Finally, Russell Investments Group Ltd. lifted its stake in Boston Properties by 356.2% in the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock valued at $15,977,000 after buying an additional 191,883 shares in the last quarter. Hedge funds and other 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.