Boston Properties (NYSE:BXP) Price Target Cut to $84.00 by Analysts at Jefferies Financial Group

Boston Properties (NYSE:BXP) had its price objective decreased by equities research analysts at Jefferies Financial Group from $93.00 to $84.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective points to a potential upside of 12.13% from the company’s previous close.

Several other analysts also recently commented on BXP. Evercore ISI upped their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Finally, Compass Point upgraded Boston Properties from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $88.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.69.

Boston Properties Price Performance

NYSE BXP opened at $74.91 on Thursday. The stock’s fifty day moving average price is $79.69 and its 200 day moving average price is $75.24. Boston Properties has a 1 year low of $56.46 and a 1 year high of $90.11. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 0.55 and a beta of 1.18.

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 analysts’ expectations of $829.91 million. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. As a group, equities research analysts forecast that Boston Properties will post 7.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BXP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Boston Properties by 61.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock worth $1,759,000 after buying an additional 10,928 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Boston Properties by 189.0% during the second quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust’s stock worth $4,897,000 after purchasing an additional 52,026 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Boston Properties by 15.7% during the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares in the last quarter. Natixis Advisors LLC raised its stake in Boston Properties by 52.8% in the 2nd quarter. Natixis Advisors LLC now owns 148,073 shares of the real estate investment trust’s stock valued at $9,115,000 after purchasing an additional 51,158 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Boston Properties by 92.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,831 shares of the real estate investment trust’s stock valued at $851,000 after purchasing an additional 6,642 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.