Boston Properties (NYSE:BXP) Given New $84.00 Price Target at Evercore ISI

Boston Properties (NYSE:BXP) had its target price increased by Evercore ISI from $77.00 to $84.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential upside of 4.46% from the company’s previous close.

Several other research analysts also recently commented on BXP. Barclays decreased their price target on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Wells Fargo & Company increased their price target on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Wedbush increased 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. Finally, Morgan Stanley restated an “equal weight” rating and set a $62.00 price target on shares of Boston Properties in a report on Thursday, June 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus price target of $74.08.

Boston Properties Stock Performance

Shares of BXP opened at $80.41 on Monday. Boston Properties has a 52-week low of $50.64 and a 52-week high of $82.42. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 65.91, 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 stock’s 50-day simple moving average is $71.21 and its 200 day simple moving average is $65.03.

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

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’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 transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently modified their holdings of the company. Earnest Partners LLC lifted its holdings in Boston Properties by 25.9% in the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after acquiring an additional 542,610 shares during the period. Centersquare Investment Management LLC grew its position in Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after buying an additional 468,950 shares during the period. Sei Investments Co. increased its holdings in Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after buying an additional 371,946 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Boston Properties by 206.6% in the first quarter. Los Angeles Capital Management LLC now owns 508,961 shares of the real estate investment trust’s stock worth $33,240,000 after acquiring an additional 342,939 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Boston Properties during the 4th quarter worth $18,828,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.