Boston Properties (NYSE:BXP) Price Target Cut to $79.00 by Analysts at Barclays

Boston Properties (NYSE:BXP) had its target price dropped by research analysts at Barclays from $89.00 to $79.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 20.52% from the stock’s previous close.

A number of other equities analysts also recently commented on BXP. Scotiabank reduced their price objective on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group decreased their price target on Boston Properties from $93.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Mizuho dropped their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler cut their price objective on Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Wedbush downgraded shares of Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus price target of $81.31.

Boston Properties Stock Up 2.5 %

BXP stock opened at $65.55 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. The stock has a market capitalization of $10.37 billion, a P/E ratio of 655.57, a P/E/G ratio of 0.91 and a beta of 1.19. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The business has a 50-day moving average of $70.43 and a 200-day moving average of $76.71.

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

Insider Transactions at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Hilary J. Spann sold 12,379 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the completion of the sale, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. This represents a 63.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds have recently added to or reduced their stakes in BXP. Deutsche Bank AG grew its holdings 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Boston Properties during the fourth quarter worth about $8,994,000. Wealthfront Advisers LLC increased its holdings 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 buying an additional 99,248 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in shares of 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 buying an additional 18,900 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of 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 buying an additional 10,429 shares in the last quarter. 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.