Boston Properties, Inc. (NYSE:BXP) Receives $74.08 Average Price Target from Analysts

Boston Properties, Inc. (NYSE:BXP) has been given a consensus rating of “Hold” by the thirteen brokerages that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.08.

Several research firms recently weighed in on BXP. Truist Financial lifted their target price on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company increased their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler raised 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. Wedbush upped their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Evercore ISI raised their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th.

Insider Buying and Selling

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction dated Friday, August 23rd. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 owned by company insiders.

Hedge Funds Weigh In On Boston Properties

Large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in Boston Properties by 212.1% during 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 last quarter. UMB Bank n.a. grew its stake in shares of Boston Properties by 115.5% during the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings 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 buying an additional 395 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Boston Properties by 61.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 547 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boston Properties in the 2nd quarter valued at $91,000. Institutional investors own 98.72% of the company’s stock.

Boston Properties Trading Down 1.6 %

Boston Properties stock opened at $81.02 on Friday. Boston Properties has a 52-week low of $50.64 and a 52-week high of $83.85. The company has a market cap of $12.72 billion, a P/E ratio of 66.41, a P/E/G ratio of 0.35 and a beta of 1.18. 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 has a 50-day simple moving average of $72.20 and a two-hundred day simple moving average of $65.39.

Boston Properties (NYSE:BXP) last announced its earnings results 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). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same quarter last year, the firm posted $1.86 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.98 per share. The ex-dividend date is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.84%. Boston Properties’s payout ratio is 321.31%.

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.