BXP (NYSE:BXP) Downgraded by Evercore ISI to In-Line

Key Points

• Evercore ISI has downgraded BXP (NYSE:BXP) from an "outperform" rating to an "in-line" rating, with a price target of $76.00, indicating a potential upside of only 0.15% from its current price.
• Despite the downgrade, BXP has received mixed ratings from other analysts, with six maintaining a Buy rating and an average price target of $76.07.
• BXP recently reported earnings of $1.71 per share for the last quarter, surpassing analysts' expectations and showing a 2.1% increase in revenue year-over-year.

Evercore ISI downgraded shares of BXP (NYSE:BXP - Free Report) from an outperform rating to an in-line rating in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $76.00 target price on the real estate investment trust's stock.

BXP has been the subject of a number of other reports. Scotiabank decreased their price objective on shares of BXP from $81.00 to $77.00 and set a "sector perform" rating for the company in a research report on Thursday, August 28th. Wells Fargo & Company decreased their price objective on shares of BXP from $78.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, August 27th. Truist Financial decreased their price objective 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. Piper Sandler decreased their price objective on shares of BXP from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of BXP from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.06.

BXP Stock Up 1.5%

BXP stock traded up $1.11 during trading on Tuesday, reaching $77.34. 2,141,888 shares of the company's stock were exchanged, compared to its average volume of 1,590,913. The company's 50-day moving average is $69.41 and its two-hundred day moving average is $67.75. The company has a debt-to-equity ratio of 2.06, a quick ratio of 3.76 and a current ratio of 3.76. BXP has a 52-week low of $54.22 and a 52-week high of $90.11. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 2,578.89, a PEG ratio of 4.21 and a beta of 1.22.

BXP (NYSE:BXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.04. The company had revenue of $868.46 million during the quarter, compared to analysts' expectations of $845.09 million. BXP had a net margin of 0.11% and a return on equity of 3.89%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 EPS. BXP has set its FY 2025 guidance at 6.840-6.92 EPS. Q3 2025 guidance at 1.690-1.71 EPS. On average, analysts predict that BXP will post 6.91 earnings per share for the current year.

BXP Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. BXP's dividend payout ratio is 13,066.67%.

Institutional Investors Weigh In On BXP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in BXP by 4.3% during the second quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust's stock worth $1,651,017,000 after acquiring an additional 1,016,579 shares during the period. State Street Corp raised its stake in BXP by 1.7% during the second quarter. State Street Corp now owns 11,433,768 shares of the real estate investment trust's stock worth $782,337,000 after acquiring an additional 186,269 shares during the period. Norges Bank acquired a new stake in BXP during the second quarter worth about $686,886,000. Geode Capital Management LLC raised its stake in BXP by 1.7% during the second quarter. Geode Capital Management LLC now owns 4,153,844 shares of the real estate investment trust's stock worth $279,186,000 after acquiring an additional 68,481 shares during the period. Finally, Boston Partners raised its stake in BXP by 15.5% during the second quarter. Boston Partners now owns 3,009,193 shares of the real estate investment trust's stock worth $203,020,000 after acquiring an additional 403,090 shares during the period. 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.