Boston Properties (NYSE:BXP) Price Target Raised to $80.00 at Wells Fargo & Company

Boston Properties (NYSE:BXP) had its target price lifted by Wells Fargo & Company from $73.00 to $80.00 in a research note published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

BXP has been the topic of several other reports. Wedbush raised their target price 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. Barclays dropped their price objective on Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a report on Friday, May 24th. Morgan Stanley reissued an equal weight rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Truist Financial boosted their price target on Boston Properties from $67.00 to $77.00 and gave the company a hold rating in a research note on Tuesday, August 27th. Finally, StockNews.com upgraded shares of Boston Properties from a sell rating to a hold rating in a research note on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $73.54.

Boston Properties Price Performance

Shares of NYSE BXP opened at $76.29 on Wednesday. The firm has a market cap of $11.98 billion, a P/E ratio of 62.53, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The business’s 50 day moving average is $69.67 and its 200-day moving average is $64.59. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. Boston Properties has a 1-year low of $50.64 and a 1-year high of $76.37.

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

Boston Properties Dividend Announcement

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

Insider Activity at Boston Properties

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

Institutional Trading of Boston Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in Boston Properties by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 150 shares during the period. Ieq Capital LLC lifted its stake in shares of Boston Properties by 1.5% in the fourth quarter. Ieq Capital LLC now owns 11,184 shares of the real estate investment trust’s stock worth $785,000 after acquiring an additional 164 shares during the period. Mystic Asset Management Inc. boosted its holdings in Boston Properties by 3.1% in the second quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC increased its position in Boston Properties by 2.6% during the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 168 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Boston Properties by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after purchasing an additional 175 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.