Boston Properties, Inc. (NYSE:BXP) Receives $80.23 Average Target Price from Brokerages

Shares of Boston Properties, Inc. (NYSE:BXP) have received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $80.85.

BXP has been the topic of a number of analyst reports. Barclays lifted their price objective on Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $88.00 in a research report on Thursday. Evercore ISI lifted their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, UBS Group lifted their target price on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The stock was 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.

Hedge Funds Weigh In On Boston Properties

A number of large investors have recently bought and sold shares of BXP. Earnest Partners LLC boosted its holdings in 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 valued at $162,348,000 after acquiring an additional 542,610 shares during the period. Sei Investments Co. lifted its holdings in shares of Boston Properties by 32.9% in the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after buying an additional 371,946 shares during the period. Swedbank AB purchased a new stake in shares of Boston Properties in the 1st quarter worth $16,729,000. Point72 Asset Management L.P. purchased a new stake in shares of Boston Properties in the 2nd quarter worth $12,914,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Boston Properties by 356.2% in the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock worth $15,977,000 after buying an additional 191,883 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Trading Down 1.2 %

Boston Properties stock opened at $78.53 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. Boston Properties has a one year low of $52.61 and a one year high of $90.11. The stock has a market capitalization of $12.42 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The business’s fifty day moving average is $81.94 and its 200 day moving average is $70.89.

Boston Properties (NYSE:BXP) last announced its earnings results 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). The firm had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 earnings per share. On average, sell-side analysts predict that Boston Properties will post 7.1 EPS for the current year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s payout ratio is 169.70%.

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.