Wells Fargo & Company Cuts Boston Properties (NYSE:BXP) Price Target to $80.00

Boston Properties (NYSE:BXP) had its target price cut by research analysts at Wells Fargo & Company from $88.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.49% from the stock’s current price.

A number of other research firms also recently commented on BXP. Wedbush downgraded shares of Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $88.00 in a research report on Thursday, November 14th. UBS Group boosted their price objective on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Piper Sandler cut their price objective on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Truist Financial boosted their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Properties presently has an average rating of “Hold” and a consensus target price of $82.23.

Boston Properties Stock Down 1.4 %

NYSE:BXP traded down $0.99 during midday trading on Monday, hitting $71.75. 52,947 shares of the company were exchanged, compared to its average volume of 1,243,772. 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 has a market capitalization of $11.35 billion, a PE ratio of 716.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The company has a fifty day simple moving average of $74.71 and a 200 day simple moving average of $76.93.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. As a group, equities analysts anticipate that Boston Properties will post 6.91 earnings per share for the current fiscal year.

Insider Activity

In other Boston Properties news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares in the company, valued at $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

A number of institutional investors have recently bought and sold shares of BXP. Harvest Fund Management Co. Ltd boosted its stake in Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Boston Properties during the third quarter worth $58,000. Sound Income Strategies LLC boosted its stake in Boston Properties by 34.4% during the third quarter. Sound Income Strategies LLC now owns 3,210 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 821 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Boston Properties by 25.8% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,414 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 1,112 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Boston Properties by 60.5% during the third quarter. Blue Trust Inc. now owns 5,669 shares of the real estate investment trust’s stock worth $456,000 after buying an additional 2,138 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Boston Properties

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.