BXP (NYSE:BXP) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• BXP has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating concerns about its stock performance.
• Several major firms have lowered their target prices for BXP, with Wells Fargo setting it at $78.00 and Goldman Sachs at $68.00.
• Despite a downgrade, BXP's recent earnings report showed a profit of $1.71 per share, surpassing analyst expectations.

BXP (NYSE:BXP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company decreased their target price on shares of BXP from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. The Goldman Sachs Group decreased their target price on shares of BXP from $76.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday. Truist Financial decreased their target price on shares of BXP from $75.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Scotiabank decreased their target price on shares of BXP from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. Finally, UBS Group decreased their target price on shares of BXP from $80.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.07.

BXP Price Performance

Shares of NYSE BXP opened at $65.44 on Friday. The firm's 50-day moving average price is $68.89 and its 200-day moving average price is $67.66. BXP has a 1-year low of $54.22 and a 1-year high of $90.11. The firm has a market capitalization of $10.36 billion, a P/E ratio of 2,182.06, a P/E/G ratio of 3.60 and a beta of 1.17. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 2.06.

BXP (NYSE:BXP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $868.46 million for the quarter, compared to analyst estimates of $845.09 million. BXP had a net margin of 0.11% and a return on equity of 3.89%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share. Equities research analysts anticipate that BXP will post 6.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co boosted its stake in BXP by 12.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 405,481 shares of the real estate investment trust's stock valued at $27,371,000 after acquiring an additional 44,093 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in BXP by 73.2% in the second quarter. Tower Research Capital LLC TRC now owns 9,143 shares of the real estate investment trust's stock valued at $617,000 after acquiring an additional 3,864 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in BXP in the second quarter valued at about $29,000. Corient Private Wealth LLC boosted its stake in BXP by 33.1% in the second quarter. Corient Private Wealth LLC now owns 38,714 shares of the real estate investment trust's stock valued at $2,612,000 after acquiring an additional 9,623 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in BXP in the second quarter valued at about $256,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

BXP 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.

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