Boston Properties (NYSE:BXP) Hits New 12-Month Low - Should You Sell?

Boston Properties, Inc. (NYSE:BXP - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $56.44 and last traded at $57.39, with a volume of 84114 shares. The stock had previously closed at $60.42.

Wall Street Analysts Forecast Growth

BXP has been the subject of a number of analyst reports. Wedbush downgraded Boston Properties from a "hold" rating to a "strong sell" rating in a report on Thursday, January 30th. Mizuho decreased their target price on shares of Boston Properties from $92.00 to $86.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Barclays dropped their price target on shares of Boston Properties from $89.00 to $79.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Jefferies Financial Group initiated coverage on shares of Boston Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $78.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on Boston Properties from $88.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $81.08.

Boston Properties Trading Up 1.5 %

The company has a fifty day moving average of $67.34 and a 200-day moving average of $74.74. The company has a current ratio of 5.69, a quick ratio of 5.51 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 605.45, a PEG ratio of 0.91 and a beta of 1.06.

Remove Ads

Boston Properties (NYSE:BXP - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. As a group, equities research analysts anticipate that Boston Properties, Inc. will post 6.91 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Monday, March 31st. Boston Properties's dividend payout ratio is currently 3,920.00%.

Insider Buying and Selling

In related news, EVP Donna D. Garesche sold 2,143 shares of Boston Properties stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the transaction, the executive vice president now directly owns 7,271 shares in the company, valued at $523,657.42. This trade represents a 63.00 % decrease in their position. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Boston Properties by 12.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust's stock valued at $12,679,000 after purchasing an additional 18,900 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Boston Properties in the fourth quarter valued at approximately $8,994,000. Toronto Dominion Bank grew its position in Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust's stock worth $3,966,000 after acquiring an additional 6,687 shares during the period. Cibc World Markets Corp increased its stake in Boston Properties by 12.2% during the fourth quarter. Cibc World Markets Corp now owns 65,481 shares of the real estate investment trust's stock worth $4,869,000 after acquiring an additional 7,100 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its position in Boston Properties by 198.9% in the fourth quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust's stock valued at $11,091,000 after purchasing an additional 99,248 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.