Boston Properties (NYSE:BXP) Reaches New 12-Month High Following Analyst Upgrade

Boston Properties, Inc. (NYSE:BXP) hit a new 52-week high during trading on Tuesday after Evercore ISI raised their price target on the stock from $77.00 to $84.00. Evercore ISI currently has an outperform rating on the stock. Boston Properties traded as high as $81.90 and last traded at $81.90, with a volume of 953 shares traded. The stock had previously closed at $81.50.

A number of other equities analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. Wells Fargo & Company boosted their price target on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Truist Financial raised their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.08.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed 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 business’s 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated 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

Several institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 386 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Boston Properties by 59.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 395 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Boston Properties during the fourth quarter valued at approximately $93,000. Finally, Sound Income Strategies LLC grew its stake in shares of Boston Properties by 198.1% during the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 949 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Trading Down 1.3 %

The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The business’s fifty day moving average is $71.21 and its two-hundred day moving average is $65.03. The firm has a market cap 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.

Boston Properties (NYSE:BXP) last released its earnings results 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 net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. During the same period last year, the business posted $1.86 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a yield of 4.88%. Boston Properties’s payout ratio is presently 321.31%.

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.