Scotiabank Increases Boston Properties (NYSE:BXP) Price Target to $82.00

Boston Properties (NYSE:BXP) had its price objective boosted by Scotiabank from $76.00 to $82.00 in a report issued on Wednesday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a report on Thursday, August 8th. Barclays decreased their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a report on Friday, May 24th. Truist Financial lifted their target price on Boston Properties from $67.00 to $77.00 and gave the company a hold rating in a report on Tuesday, August 27th. Piper Sandler raised their price target on Boston Properties from $70.00 to $78.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. Finally, Evercore ISI raised their price target on Boston Properties from $76.00 to $77.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties currently has an average rating of Hold and a consensus target price of $73.54.

Boston Properties Trading Up 1.8 %

BXP opened at $80.06 on Wednesday. Boston Properties has a 52 week low of $50.64 and a 52 week high of $80.58. The business has a fifty day simple moving average of $70.41 and a 200-day simple moving average of $64.80. The firm has a market cap of $12.57 billion, a P/E ratio of 65.62, a P/E/G ratio of 0.35 and a beta of 1.18. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). The firm had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, equities analysts expect that Boston Properties will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is currently 321.31%.

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Several institutional investors have recently added to or reduced their stakes in BXP. Victory Capital Management Inc. increased its position in Boston Properties by 593.7% in the 4th quarter. Victory Capital Management Inc. now owns 35,109 shares of the real estate investment trust’s stock valued at $2,464,000 after acquiring an additional 30,048 shares during the period. Principal Securities Inc. purchased a new stake in Boston Properties in the 4th quarter valued at approximately $93,000. Versor Investments LP purchased a new stake in Boston Properties in the 4th quarter valued at approximately $260,000. Jump Financial LLC purchased a new stake in Boston Properties in the 4th quarter valued at approximately $337,000. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 22,074 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.