Boston Properties (NYSE:BXP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Shares of Boston Properties have underperformed its industry, over the past year. Also, the stock has seen the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share being revised downward in two months’ time. Notably, there is growth in supply of office space in the market and this remains a concern because higher supply usually leads to lesser absorption and also curtails the landlord’s capability to demand more rents. There is also a trend of increased concessions in some of the markets. Moreover, big financial players are opting for resizing of their business and cost containment efforts, which is affecting demand for office space. Furthermore, rate hikes have added to its woes. Nevertheless, Boston Properties’ assets located in select, high-rent, high barrier-to-entry geographic markets, diversified tenant and industry base have the capacity to drive long-term growth.”

Several other analysts have also recently weighed in on BXP. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a report on Wednesday, October 4th. Evercore ISI reiterated an “in-line” rating and issued a $133.00 price target (up previously from $127.00) on shares of Boston Properties in a report on Friday, October 6th. SunTrust Banks reiterated a “hold” rating and issued a $130.00 price target on shares of Boston Properties in a report on Monday, October 9th. Jefferies Group reiterated a “hold” rating and issued a $124.00 price target on shares of Boston Properties in a report on Tuesday, October 24th. Finally, Mizuho reiterated a “hold” rating and issued a $122.00 price target on shares of Boston Properties in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Boston Properties presently has a consensus rating of “Hold” and an average price target of $131.09.

Shares of Boston Properties (NYSE:BXP) traded down $1.12 during midday trading on Tuesday, hitting $126.74. 724,300 shares of the company traded hands, compared to its average volume of 984,920. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. Boston Properties has a 12 month low of $116.77 and a 12 month high of $140.13. The stock has a market capitalization of $19,370.00, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 3.60 and a beta of 0.63.

Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 EPS for the quarter, topping the consensus estimate of $1.54 by $0.03. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The company had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. During the same period in the previous year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. equities analysts predict that Boston Properties will post 6.25 EPS for the current year.

In other news, insider Bryan J. Koop sold 5,868 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total transaction of $730,859.40. Following the sale, the insider now owns 585 shares in the company, valued at approximately $72,861.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Amica Retiree Medical Trust bought a new stake in shares of Boston Properties during the 3rd quarter valued at $105,000. NewSquare Capital LLC boosted its holdings in shares of Boston Properties by 12,184.0% during the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 121,840 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of Boston Properties during the 3rd quarter valued at $125,000. Sun Life Financial INC boosted its holdings in shares of Boston Properties by 10,118.2% during the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,113 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Boston Properties during the 3rd quarter valued at $169,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

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Boston Properties Company Profile

Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.

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