UBS Group Cuts Boston Properties (NYSE:BXP) Price Target to $68.00

Boston Properties (NYSE:BXP - Free Report) had its price objective lowered by UBS Group from $80.00 to $68.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust's stock.

A number of other brokerages have also issued reports on BXP. Scotiabank dropped their price objective on shares of Boston Properties from $85.00 to $83.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their price target on shares of Boston Properties from $88.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Barclays reduced 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 assumed coverage on 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, Wedbush downgraded Boston Properties from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.83.

Boston Properties Price Performance

BXP stock traded up $0.70 during mid-day trading on Monday, reaching $64.24. The company's stock had a trading volume of 1,105,282 shares, compared to its average volume of 1,274,563. 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's 50 day moving average is $64.90 and its two-hundred day moving average is $72.09. Boston Properties has a fifty-two week low of $54.22 and a fifty-two week high of $90.11. The stock has a market cap of $10.17 billion, a PE ratio of 642.46, a P/E/G ratio of 0.91 and a beta of 1.12.

Boston Properties (NYSE:BXP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.01). Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. The company had revenue of $865.22 million during the quarter, compared to analyst estimates of $833.89 million. During the same period in the prior year, the business posted $1.73 EPS. Boston Properties's revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts expect that Boston Properties will post 6.91 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend was Monday, March 31st. Boston Properties's payout ratio is -19,600.00%.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the company's stock in a transaction dated 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 available at the SEC website. Company insiders own 1.35% of the company's stock.

Institutional Trading of Boston Properties

A number of large investors have recently made changes to their positions in BXP. Brooklyn Investment Group lifted its stake in Boston Properties by 19.8% in the fourth quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 142 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Boston Properties by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the real estate investment trust's stock worth $650,000 after purchasing an additional 156 shares in the last quarter. Huntington National Bank increased its holdings in Boston Properties by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 263 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in Boston Properties in the fourth quarter valued at $32,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Boston Properties by 4.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,215 shares of the real estate investment trust's stock worth $754,000 after buying an additional 441 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties 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.