Compass Point Upgrades Boston Properties (NYSE:BXP) to “Buy”

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

A number of other research analysts have also weighed in on BXP. Truist Financial raised their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company raised their price target on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a report on Thursday, November 7th. Wedbush raised their target price on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Evercore ISI boosted their price target on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.85.

Boston Properties Stock Down 1.2 %

Shares of BXP opened at $78.53 on Thursday. The business’s 50 day moving average is $81.94 and its 200 day moving average is $70.89. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a 12-month low of $52.61 and a 12-month high of $90.11. The company has a market capitalization 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.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The company had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same quarter in the previous year, the business earned $1.86 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts expect that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of the company’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. 1.35% of the stock is currently owned by insiders.

Institutional Trading of Boston Properties

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its stake in Boston Properties by 19.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,419 shares of the real estate investment trust’s stock worth $811,000 after purchasing an additional 1,986 shares in the last quarter. Russell Investments Group Ltd. grew 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 worth $15,977,000 after buying an additional 191,883 shares in the last quarter. US Bancorp DE grew its position 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 worth $3,154,000 after buying an additional 1,378 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Boston Properties by 19.5% during the first 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 buying an additional 43,195 shares during the period. Finally, M&G Plc bought a new stake in shares of Boston Properties in the first quarter valued at about $3,807,000. 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.