Barclays Forecasts Strong Price Appreciation for Boston Properties (NYSE:BXP) Stock

Boston Properties (NYSE:BXP) had its target price lifted by research analysts at Barclays from $88.00 to $89.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 12.07% from the stock’s current price.

BXP has been the subject of several other research reports. Wedbush upped their target price on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Evercore ISI upped their target price 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. UBS Group upped their target price on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $88.00 in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their target price 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.92.

Boston Properties Stock Performance

BXP stock opened at $79.42 on Monday. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. The company has a 50 day moving average price of $82.20 and a 200 day moving average price of $71.41. Boston Properties has a fifty-two week low of $52.61 and a fifty-two week high of $90.11. The stock has a market capitalization of $12.56 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same quarter last year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts forecast that Boston Properties will post 7.1 EPS for the current year.

Insider Buying and Selling

In related news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction 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. Company insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of 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 last quarter. Mystic Asset Management Inc. boosted its stake in shares of Boston Properties by 3.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 165 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Boston Properties by 2.6% during the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 168 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of 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 buying an additional 175 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC boosted its stake in shares of Boston Properties by 7.5% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 4,300 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 300 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.