Wall Street Zen Downgrades BXP (NYSE:BXP) to Sell

Wall Street Zen cut shares of BXP (NYSE:BXP) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other research firms also recently weighed in on BXP. JPMorgan Chase & Co. upgraded shares of BXP from an “underweight” rating to a “neutral” rating and raised their target price for the company from $72.00 to $78.00 in a report on Monday, June 23rd. The Goldman Sachs Group dropped their price objective on shares of BXP from $76.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Mizuho cut their price objective on BXP from $86.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, July 14th. Truist Financial reduced their target price on BXP from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. Finally, Piper Sandler dropped their price target on BXP from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.07.

BXP Stock Performance

NYSE BXP opened at $65.23 on Friday. The business has a 50 day moving average price of $68.75 and a 200 day moving average price of $67.57. The company has a market capitalization of $10.33 billion, a P/E ratio of 2,174.89, a PEG ratio of 3.62 and a beta of 1.17. BXP has a 1-year low of $54.22 and a 1-year high of $90.11. The company has a debt-to-equity ratio of 2.06, a current ratio of 3.76 and a quick ratio of 3.76.

BXP (NYSE:BXP) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $868.46 million for the quarter, compared to analyst estimates of $845.09 million. BXP had a return on equity of 3.89% and a net margin of 0.11%. BXP’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. Sell-side analysts expect that BXP will post 6.91 EPS for the current fiscal year.

BXP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.0%. The ex-dividend date was Monday, June 30th. BXP’s dividend payout ratio is presently 13,066.67%.

Hedge Funds Weigh In On BXP

Several large investors have recently added to or reduced their stakes in BXP. Loomis Sayles & Co. L P purchased a new stake in BXP in the 2nd quarter valued at about $25,000. MUFG Securities EMEA plc acquired a new stake in shares of BXP in the second quarter worth approximately $29,000. REAP Financial Group LLC boosted its position in shares of BXP by 193.2% in the second quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 311 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in BXP in the first quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in BXP during the second quarter worth approximately $43,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

About BXP

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.