BXP (NYSE:BXP) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

JPMorgan Chase & Co. upgraded shares of BXP (NYSE:BXP) from an underweight rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $78.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $72.00.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group assumed coverage on BXP in a report on Monday, March 17th. They set a “buy” rating and a $78.00 price target on the stock. Truist Financial lowered their target price on shares of BXP from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. UBS Group cut their price objective on shares of BXP from $80.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Barclays lowered their price target on BXP from $89.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, Scotiabank dropped their price objective on shares of BXP from $85.00 to $83.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.54.

BXP Trading Down 0.6%

BXP opened at $71.05 on Monday. The business’s 50 day moving average price is $67.46 and its 200 day moving average price is $69.37. The company has a debt-to-equity ratio of 2.04, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market capitalization of $11.25 billion, a PE ratio of -3,550.57, a P/E/G ratio of 5.84 and a beta of 1.16. BXP has a one year low of $54.22 and a one year high of $90.11.

BXP (NYSE:BXP) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.01). BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. The business had revenue of $865.22 million for the quarter, compared to analysts’ expectations of $833.89 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that BXP will post 6.91 EPS for the current year.

BXP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.98 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.52%. BXP’s payout ratio is currently -19,600.00%.

Hedge Funds Weigh In On BXP

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of BXP by 632.6% in the 1st quarter. Jones Financial Companies Lllp now owns 22,615 shares of the real estate investment trust’s stock worth $1,520,000 after acquiring an additional 19,528 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of BXP by 9.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 36,625 shares of the real estate investment trust’s stock worth $2,461,000 after buying an additional 3,224 shares during the period. Brooklyn Investment Group grew its stake in BXP by 124.6% during the 1st quarter. Brooklyn Investment Group now owns 1,927 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 1,069 shares in the last quarter. Nuveen LLC purchased a new stake in BXP in the 1st quarter worth approximately $14,737,000. Finally, Tredje AP fonden grew its stake in BXP by 801.4% in the first quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust’s stock valued at $7,251,000 after purchasing an additional 95,948 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.