Scotiabank Has Lowered Expectations for Boston Properties (NYSE:BXP) Stock Price

Boston Properties (NYSE:BXP) had its price objective reduced by equities research analysts at Scotiabank from $85.00 to $83.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential upside of 17.10% from the stock’s current price.

BXP has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Mizuho dropped their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Jefferies Financial Group dropped their price target on shares of Boston Properties from $93.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Piper Sandler lowered their target price on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.08.

Boston Properties Trading Up 1.2 %

Shares of NYSE BXP opened at $70.88 on Friday. Boston Properties has a 1 year low of $56.46 and a 1 year high of $90.11. The stock has a market cap 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. The firm has a 50-day moving average of $72.08 and a 200 day moving average of $77.02. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. As a group, sell-side analysts expect that Boston Properties will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at Boston Properties

In related news, EVP Hilary J. Spann sold 12,379 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the transaction, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. This trade represents a 63.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Several hedge funds and other institutional investors have recently modified their holdings of BXP. Deutsche Bank AG grew its stake in shares of Boston Properties by 30.6% during the 4th quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock worth $70,612,000 after purchasing an additional 222,284 shares during the period. Raymond James Financial Inc. acquired a new stake in Boston Properties in the 4th quarter valued at $8,994,000. Wealthfront Advisers LLC grew its stake in Boston Properties by 198.9% in the 4th quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust’s stock valued at $11,091,000 after acquiring an additional 99,248 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its stake in Boston Properties by 12.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust’s stock valued at $12,679,000 after acquiring an additional 18,900 shares during the period. Finally, Whittier Trust Co. grew its stake in Boston Properties by 3.5% in the 4th quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust’s stock valued at $22,812,000 after acquiring an additional 10,429 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.