Boston Properties (NYSE:BXP) Price Target Cut to $83.00 by Analysts at Scotiabank

Boston Properties (NYSE:BXP) had its target price reduced by Scotiabank from $85.00 to $83.00 in a report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

BXP has been the topic of several other reports. Jefferies Financial Group reduced their target price on Boston Properties from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Mizuho reduced their target price on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Truist Financial lifted their target price on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their target price on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.08.

Boston Properties Stock Up 1.2 %

NYSE BXP opened at $70.88 on Friday. The stock has a fifty day moving average of $72.08 and a 200-day moving average of $76.96. The stock has a market capitalization of $11.21 billion, a P/E ratio of 708.86, a price-to-earnings-growth ratio of 0.91 and a beta of 1.18. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, equities research analysts forecast that Boston Properties will post 6.91 EPS for the current year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st were issued a $0.98 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.53%. Boston Properties’s dividend payout ratio (DPR) is 3,920.00%.

Insider Activity

In related news, EVP Hilary J. Spann sold 12,379 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares in the company, valued at approximately $523,657.42. This represents a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG raised its holdings in Boston Properties by 30.6% during the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock worth $70,612,000 after acquiring an additional 222,284 shares in the last quarter. Whittier Trust Co. raised its holdings in Boston Properties by 3.5% during the fourth quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust’s stock worth $22,812,000 after acquiring an additional 10,429 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Boston Properties by 12.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust’s stock worth $12,679,000 after acquiring an additional 18,900 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in Boston Properties by 198.9% during the fourth quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust’s stock worth $11,091,000 after acquiring an additional 99,248 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Boston Properties by 7.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust’s stock worth $10,717,000 after acquiring an additional 10,252 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

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.