Boston Properties (NYSE:BXP) Price Target Lowered to $84.00 at Jefferies Financial Group

Boston Properties (NYSE:BXP) had its price objective decreased by research analysts at Jefferies Financial Group from $93.00 to $84.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price indicates a potential upside of 12.96% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company increased 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. Wedbush downgraded Boston Properties from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $81.00 to $70.00 in a research report on Thursday. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and upped their price target for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.69.

Boston Properties Stock Performance

NYSE:BXP opened at $74.36 on Thursday. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $11.76 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11. The stock’s 50-day simple moving average is $79.97 and its 200 day simple moving average is $75.25.

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

Institutional Investors Weigh In On Boston Properties

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of 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 worth $35,000 after buying an additional 386 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Boston Properties in the third quarter worth $58,000. Northwestern Mutual Wealth Management Co. increased its stake in Boston Properties by 61.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 547 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of Boston Properties during the second quarter valued at about $116,000. Institutional investors own 98.72% of the company’s stock.

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.