Boston Properties (NYSE:BXP) Given New $84.00 Price Target at Jefferies Financial Group

Boston Properties (NYSE:BXP) had its target price lowered by investment analysts at Jefferies Financial Group from $93.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price points to a potential upside of 12.96% from the company’s current price.

BXP has been the subject of several other reports. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $88.00 in a research note on Thursday, November 14th. Barclays increased their price target on Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Evercore ISI lifted their price objective 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. Truist Financial increased their target price on shares of Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.69.

Boston Properties Stock Performance

NYSE BXP opened at $74.36 on Thursday. The company has a market cap of $11.76 billion, a P/E ratio of 32.19, a PEG ratio of 0.55 and a beta of 1.17. The company has a fifty day simple moving average of $79.97 and a 200 day simple moving average of $75.25. 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 $56.46 and a 12-month high of $90.11.

Boston Properties (NYSE:BXP) last issued 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 net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BXP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Boston Properties by 61.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock valued at $1,759,000 after acquiring an additional 10,928 shares during the period. Victory Capital Management Inc. increased its stake in shares of Boston Properties by 189.0% in the second quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust’s stock worth $4,897,000 after purchasing an additional 52,026 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock valued at $3,966,000 after purchasing an additional 6,687 shares during the period. Natixis Advisors LLC lifted its stake in shares of Boston Properties by 52.8% during the 2nd quarter. Natixis Advisors LLC now owns 148,073 shares of the real estate investment trust’s stock valued at $9,115,000 after buying an additional 51,158 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Boston Properties by 92.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,831 shares of the real estate investment trust’s stock valued at $851,000 after buying an additional 6,642 shares in the last quarter. Institutional investors 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.