Boston Properties (NYSE:BXP) Price Target Raised to $80.00 at UBS Group

Boston Properties (NYSE:BXP) had its target price upped by UBS Group from $64.00 to $80.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

BXP has been the topic of several other research reports. Scotiabank increased their target price on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Wedbush increased their target price on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Evercore ISI increased their target price on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and increased their target price for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Finally, Compass Point increased their target price on Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $80.69.

Boston Properties Stock Up 1.3 %

Shares of NYSE:BXP opened at $81.38 on Tuesday. Boston Properties has a 52-week low of $50.64 and a 52-week high of $90.11. The stock has a market cap of $12.78 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The business’s 50 day moving average is $81.06 and its 200 day moving average is $70.09. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The firm had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same period last year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Boston Properties will post 7.1 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s 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 can be accessed through the SEC website. In related news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties 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 legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its stake in Boston Properties by 212.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 386 shares in the last quarter. UMB Bank n.a. lifted its stake in Boston Properties by 115.5% in the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in Boston Properties by 59.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 395 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 valued at $89,000 after buying an additional 547 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Boston Properties during the 2nd quarter valued at approximately $91,000. 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.