Boston Properties (NYSE:BXP) PT Raised to $88.00

Boston Properties (NYSE:BXP) had its target price lifted by analysts at Barclays from $65.00 to $88.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 2.12% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on BXP. Evercore ISI raised their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Wells Fargo & Company lifted their price target on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Boston Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.82.

Boston Properties Trading Down 1.4 %

Shares of BXP stock opened at $86.17 on Monday. Boston Properties has a 12-month low of $50.64 and a 12-month high of $90.11. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average is $80.23 and its 200 day moving average is $69.31. The stock has a market capitalization of $13.53 billion, a P/E ratio of 70.63, a P/E/G ratio of 0.56 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same quarter in the prior year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that Boston Properties will post 7.11 earnings per share for the current year.

Insider Activity

In other news, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Boston Properties by 12.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock worth $6,024,000 after buying an additional 7,447 shares during the last quarter. Sun Life Financial Inc. purchased a new position in shares of Boston Properties during the 3rd quarter worth about $9,674,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Boston Properties by 2.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust’s stock worth $10,771,000 after purchasing an additional 3,502 shares during the period. Whittier Trust Co. boosted its stake in shares of Boston Properties by 4.2% during the 3rd quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock worth $23,844,000 after purchasing an additional 12,018 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Boston Properties by 11.9% during the 3rd quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock worth $8,898,000 after purchasing an additional 11,752 shares during the period. 98.72% of the stock is currently owned by 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.