Sumitomo Mitsui Financial Group Downgrades Boston Properties (NYSE:BXP) to Neutral

Boston Properties (NYSE:BXP – Get Rating) was downgraded by stock analysts at Sumitomo Mitsui Financial Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $93.00 price target on the real estate investment trust’s stock. Sumitomo Mitsui Financial Group’s price target indicates a potential upside of 7.40% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group dropped their price target on Boston Properties from $112.00 to $88.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. The Goldman Sachs Group dropped their price target on Boston Properties from $120.00 to $112.00 and set a “sell” rating for the company in a research note on Wednesday, May 25th. Credit Suisse Group assumed coverage on Boston Properties in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $108.00 price target for the company. Morgan Stanley dropped their price target on Boston Properties from $104.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. Finally, StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Boston Properties presently has an average rating of “Hold” and an average price target of $105.54.

Boston Properties Stock Down 0.1 %

NYSE BXP opened at $86.59 on Thursday. The business has a fifty day moving average price of $92.68 and a two-hundred day moving average price of $110.47. The company has a debt-to-equity ratio of 1.71, a current ratio of 4.35 and a quick ratio of 4.73. Boston Properties has a fifty-two week low of $84.86 and a fifty-two week high of $133.11. The stock has a market capitalization of $13.57 billion, a PE ratio of 20.62, a PEG ratio of 2.05 and a beta of 1.11.

Boston Properties (NYSE:BXP – Get Rating) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. Boston Properties had a return on equity of 8.17% and a net margin of 22.04%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Equities analysts expect that Boston Properties will post 7.5 earnings per share for the current fiscal year.

Institutional Trading of Boston Properties

Several large investors have recently made changes to their positions in the company. MQS Management LLC acquired a new stake in shares of Boston Properties in the 2nd quarter valued at about $459,000. M&T Bank Corp grew its stake in shares of Boston Properties by 12.6% in the 2nd quarter. M&T Bank Corp now owns 19,757 shares of the real estate investment trust’s stock valued at $1,757,000 after buying an additional 2,216 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Boston Properties by 13.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,193 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 140 shares during the period. Abundance Wealth Counselors grew its stake in shares of Boston Properties by 18.1% in the 2nd quarter. Abundance Wealth Counselors now owns 2,746 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 420 shares during the period. Finally, Hill Winds Capital LP grew its stake in shares of Boston Properties by 3.1% in the 2nd quarter. Hill Winds Capital LP now owns 82,500 shares of the real estate investment trust’s stock valued at $7,341,000 after buying an additional 2,500 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties Company Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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