Boston Properties (NYSE:BXP) Stock Rating Upgraded by Compass Point

Boston Properties (NYSE:BXP) was upgraded by research analysts at Compass Point from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $88.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $80.00. Compass Point’s price objective points to a potential upside of 12.06% from the company’s current price.

Several other research analysts also recently commented on BXP. Wells Fargo & Company lifted their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. 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. Wedbush increased their price objective on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Scotiabank restated a “sector perform” rating and issued a $85.00 target price on shares of Boston Properties in a report on Thursday, November 7th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and upped their price target for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.85.

Boston Properties Stock Performance

Shares of BXP opened at $78.53 on Thursday. Boston Properties has a 12-month low of $52.61 and a 12-month high of $90.11. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The company has a market cap of $12.42 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The stock has a 50-day moving average price of $81.94 and a 200-day moving average price of $70.89.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same period in the prior year, the firm posted $1.86 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Boston Properties will post 7.1 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 that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,621,248.75. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its position in Boston Properties by 19.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,419 shares of the real estate investment trust’s stock valued at $811,000 after purchasing an additional 1,986 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Boston Properties by 356.2% during the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock valued at $15,977,000 after buying an additional 191,883 shares in the last quarter. US Bancorp DE grew its stake in shares of Boston Properties by 2.9% during the 1st quarter. US Bancorp DE now owns 48,289 shares of the real estate investment trust’s stock valued at $3,154,000 after acquiring an additional 1,378 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Boston Properties by 19.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,984 shares of the real estate investment trust’s stock valued at $17,306,000 after acquiring an additional 43,195 shares during the period. Finally, M&G Plc purchased a new stake in Boston Properties in the 1st quarter worth approximately $3,807,000. Hedge funds and other 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.