Boston Properties (NYSE:BXP) Price Target Raised to $77.00

Boston Properties (NYSE:BXP) had its price objective lifted by Evercore ISI from $76.00 to $77.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on BXP. Scotiabank upped their price target on shares of Boston Properties from $74.00 to $76.00 and gave the stock a sector outperform rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Boston Properties from a sell rating to a hold rating in a research note on Thursday, August 8th. Morgan Stanley reaffirmed an equal weight rating and set a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Truist Financial increased their price objective on shares of Boston Properties from $67.00 to $77.00 and gave the company a hold rating in a report on Tuesday. Finally, Wedbush boosted their target price on Boston Properties from $63.00 to $70.00 and gave the stock a neutral rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Boston Properties presently has a consensus rating of Hold and an average target price of $71.92.

Boston Properties Trading Up 1.1 %

Shares of Boston Properties stock opened at $75.22 on Wednesday. The firm has a 50-day simple moving average of $67.26 and a two-hundred day simple moving average of $64.02. The company has a market cap of $11.81 billion, a P/E ratio of 61.66, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $75.73. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.77 and a current ratio of 4.83.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same quarter last year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Friday, June 28th. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Properties

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Boston Properties by 0.5% during the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock worth $1,539,289,000 after purchasing an additional 122,583 shares in the last quarter. Norges Bank purchased a new stake in Boston Properties during the 4th quarter worth about $890,848,000. Allspring Global Investments Holdings LLC lifted its holdings in Boston Properties by 3.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after buying an additional 166,105 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Boston Properties by 25.9% during the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock worth $162,348,000 after acquiring an additional 542,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Boston Properties by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,228,879 shares of the real estate investment trust’s stock valued at $156,407,000 after acquiring an additional 22,074 shares during the last quarter. 98.72% of the stock is 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.