Boston Properties (NYSE:BXP) Price Target Increased to $82.00 by Analysts at Scotiabank

Boston Properties (NYSE:BXP) had its target price raised by Scotiabank from $76.00 to $82.00 in a report released on Wednesday morning, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley reissued an equal weight rating and set a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. Wedbush raised their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the stock a neutral rating in a report on Monday, August 5th. Piper Sandler upped their target price on shares of Boston Properties from $70.00 to $78.00 and gave the stock a neutral rating in a research note on Tuesday, September 3rd. Evercore ISI lifted their price target on Boston Properties from $76.00 to $77.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Finally, Truist Financial boosted their price target on Boston Properties from $67.00 to $77.00 and gave the company a hold rating in a report on Tuesday, August 27th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $73.54.

Boston Properties Trading Up 2.4 %

BXP opened at $76.29 on Wednesday. Boston Properties has a twelve month low of $50.64 and a twelve month high of $76.37. The firm has a market cap of $11.98 billion, a PE ratio of 62.53, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The firm’s fifty day moving average is $69.67 and its two-hundred day moving average is $64.59.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period in the previous year, the business posted $1.86 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.98 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 5.14%. Boston Properties’s dividend payout ratio is 321.31%.

Insider Transactions at Boston Properties

In other news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in shares of Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 340 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Boston Properties by 212.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 386 shares during the period. UMB Bank n.a. grew its position in shares of Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 395 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Boston Properties by 61.4% during 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 purchasing an additional 547 shares during the period. 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.