BXP (NYSE:BXP) Downgraded to Neutral Rating by Mizuho

BXP (NYSE:BXP) was downgraded by investment analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $62.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $79.00. Mizuho’s price objective would indicate a potential upside of 3.93% from the company’s previous close.

Several other research analysts have also weighed in on BXP. KeyCorp raised shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Thursday, December 4th. JPMorgan Chase & Co. dropped their price target on shares of BXP from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Citigroup decreased their target price on BXP from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Truist Financial reduced their price objective on shares of BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, February 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $79.00 target price on shares of BXP in a research note on Thursday, January 29th. Ten equities 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.20.

BXP Stock Performance

BXP opened at $59.66 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21. The firm’s 50-day moving average price is $65.76 and its 200 day moving average price is $69.61. The firm has a market capitalization of $9.45 billion, a PE ratio of 34.29, a PEG ratio of 2.59 and a beta of 1.01. BXP has a twelve month low of $54.22 and a twelve month high of $79.33.

Insider Buying and Selling

In other news, EVP Hilary J. Spann sold 1,194 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the completion of the transaction, the executive vice president owned 17,832 shares in the company, valued at $1,128,943.92. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Raymond A. Ritchey sold 36,314 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $72.18, for a total transaction of $2,621,144.52. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,706 shares of company stock valued at $2,770,078. 1.35% of the stock is owned by insiders.

Institutional Trading of BXP

Several large investors have recently added to or reduced their stakes in BXP. Loomis Sayles & Co. L P acquired a new stake in BXP during the 2nd quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new stake in BXP during the fourth quarter valued at approximately $25,000. Muzinich & Co. Inc. bought a new position in BXP during the 3rd quarter worth approximately $27,000. Princeton Global Asset Management LLC grew its position in shares of BXP by 892.5% in the 4th quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 357 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of BXP in the 2nd quarter valued at approximately $29,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About BXP

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.