Mizuho Cuts Boston Properties (NYSE:BXP) Price Target to $86.00

Boston Properties (NYSE:BXP) had its target price lowered by Mizuho from $92.00 to $86.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on BXP. UBS Group lifted their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial increased their target price on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. 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. Finally, Barclays upped their price objective on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $82.00.

Boston Properties Stock Performance

NYSE BXP opened at $69.99 on Tuesday. 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 business’s 50 day moving average is $78.36 and its two-hundred day moving average is $75.58. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 0.55 and a beta of 1.18. Boston Properties has a 12-month low of $56.46 and a 12-month high of $90.11.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share 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 firm had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same quarter in the prior year, the company earned $1.86 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Research analysts expect that Boston Properties will post 7.1 EPS for the current year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.98 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.60%. Boston Properties’s dividend payout ratio (DPR) is 169.70%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its position in Boston Properties by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after purchasing an additional 150 shares during the period. Mystic Asset Management Inc. lifted its holdings in shares of Boston Properties by 3.1% in the second quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 165 shares during the period. Daiwa Securities Group Inc. boosted its stake in Boston Properties by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock valued at $3,917,000 after buying an additional 175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Boston Properties by 61.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 547 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.