Boston Properties (NYSE:BXP) PT Raised to $88.00

Boston Properties (NYSE:BXP) had its price target increased by Barclays from $65.00 to $88.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential downside of 0.51% from the stock’s previous close.

A number of other research analysts have also weighed in on BXP. Truist Financial raised their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Scotiabank increased their price objective on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research note on Friday. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.82.

Boston Properties Price Performance

Shares of Boston Properties stock traded up $1.46 on Monday, hitting $88.45. The company’s stock had a trading volume of 21,821 shares, compared to its average volume of 1,257,864. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 72.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18. Boston Properties has a 1 year low of $50.64 and a 1 year high of $90.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The firm has a fifty day moving average price of $79.59 and a 200-day moving average price of $68.95.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The company had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. Boston Properties’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 EPS. As a group, sell-side analysts anticipate that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares in the last quarter. UMB Bank n.a. increased its holdings in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in Boston Properties by 59.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Boston Properties by 61.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 547 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Boston Properties during the 2nd quarter worth about $91,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.