Boston Properties (NYSE:BXP) Downgraded by Wedbush to Underperform

Boston Properties (NYSE:BXP - Get Free Report) was downgraded by equities researchers at Wedbush from a "neutral" rating to an "underperform" rating in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $70.00 target price on the real estate investment trust's stock, down from their previous target price of $81.00. Wedbush's price objective points to a potential downside of 5.02% from the company's current price.

A number of other equities analysts also recently weighed in on BXP. Compass Point upgraded shares of Boston Properties from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Scotiabank reissued a "sector perform" rating and set a $85.00 target price on shares of Boston Properties in a report on Thursday, November 7th. Truist Financial lifted their target price on shares of Boston Properties from $77.00 to $83.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Evercore ISI boosted their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped their target price on Boston Properties from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $81.69.

Boston Properties Stock Performance

Boston Properties stock traded down $0.66 on Thursday, reaching $73.70. 935,630 shares of the stock were exchanged, compared to its average volume of 1,255,217. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11. The stock has a market cap of $11.65 billion, a PE ratio of 31.90, a PEG ratio of 0.55 and a beta of 1.17. The firm has a fifty day moving average price of $79.69 and a two-hundred day moving average price of $75.24. 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 (NYSE:BXP - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $829.91 million. During the same quarter in the prior year, the company posted $1.86 EPS. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Boston Properties will post 7.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Boston Properties by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust's stock valued at $1,261,000 after buying an additional 150 shares in the last quarter. Mystic Asset Management Inc. lifted its stake in Boston Properties by 3.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust's stock worth $341,000 after purchasing an additional 165 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Boston Properties by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust's stock valued at $3,917,000 after acquiring an additional 175 shares in the last quarter. Sustainable Insight Capital Management LLC boosted its position in shares of Boston Properties by 7.5% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 4,300 shares of the real estate investment trust's stock valued at $265,000 after acquiring an additional 300 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 386 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.